Zimbabwean biggest company by market value Delta Corporation has agreed to buy a controlling stake in National Breweries Plc from its parent firm, Anheuser-Busch InBev.
Company secretary Alex Makamure said while the acquisition was still subject to regulatory approvals, the board was optimistic of prospects.
“The entity is being acquired from Heinrich’s Syndicate, a subsidiary of AB InBev,” he said.
National Breweries is a leading sorghum beer producer in Zambia whose products are marketed under the Chibuku brand.
“The impact of this transaction is currently being determined but is not material for Delta,” Mr. Makamure said.
The purchase of National Breweries will increase the Harare-based company’s exposure to the plant-based alcoholic drink, Delta said in a statement.
“This investment opportunity fits well with the company’s multi-beverage strategy,” Delta said, without putting a value on the transaction.
The expansion into neighboring Zambia will help Delta battle weak economic growth and a cash crunch in its home market.
Where are the Zambian so called business men and women? We are selling this whole nation? what is going on!
They are all struggling to go to plot 1 have you forgotten
Zambians only good for drinking legless and flashing cash…there is a difference between being rich and wealthy.
Why but why?
Remember the Kasama Coffee Zimbabwean investors?
Now Mosi is tasting like Castle?
Let them export their beer brand from Zim and we will buy if good stuff.
Get the investors from Japan, Russia, UK or Brazil to add a little unique taste to our Chibuku.
Not our immediate neighbours, no, no, no.