Trade Competition and Consumer Protection Authority (TCCPA) of Ethiopia has given green light to BGI Ethiopia to proceed with the acquisition of Meta Abo brewery from Diageo.
This is indicated this week by the management of BGI Ethiopia. “I feel honored to be part of this momentous occasion. On behalf of the Castel Group and now the expanded BGI family I would like to express my gratitude to TCCPA and the Ethiopian government at large for the speedy and professional support that was extended to us, a big congratulation to the resilient BGI family who have kept the BGI banner high even during adversities,” said BGI Ethiopia’s CEO Mr Laurent Lescuyer.
“To Meta Abo brewery -Executives, Employees’, the sebeta community and partners – I welcome you to the BGI family – We have an exciting vision that will see meta bigger and better than before, and I am committed to see that through,” he said.
Alfiya Abdu, the Mayor of Sebeta City on his part said on the occasion: “I am very happy and pleased to welcome BGI Ethiopia to Sebeta. It is our firm believe BGI Ethiopia will restore Meta’s glory and reputation by repeating the same success which we have witnessed in other areas. we are convinced this acquisition will save jobs and enhance economic activity in and around sebeta. As such my office is committed to support BGI and its management to have a smooth transition”.
During the press conference held on Wednesday it was disclosed that the acquisition will boost BGI’s current production capacity from 5,200 000 hectoliters to 6,400 000 hectoliters.
It is stated that internationally as part of the Group Castel company’s principle of innovation BGI Ethiopia ensures that today’s operations are always placed in the context of the future and contribute much to the advancement of the Nation. “The company choosing to forge ahead while keeping the community at its center is a testament of its loyalty to an inclusive form of progress.”
BGI Ethiopia is the major brewery in Ethiopia and home to five iconic beer brands and a nonalcoholic malt brand. With breweries in six cities of Ethiopia namely – Addis Ababa, Zeway, Hawassa, Kombolcha, Zebidar, and Raya – BGI Ethiopia has been operating in Ethiopia since 1998.
It is recalled that Diageo has bought Meta Abo Brewery in Ethiopia in January 2012 from the government for $225 million.