AP Breweries: completed the acquisition of 97.7% of Solomon Breweries (SB) for ~$21.5m. Located in the Solomon Islands with a 140k hectoliter brewery, SB also enjoys extensive penetration in the local market. Per capita consumption stands at 12 liters. Co expects acquisition to be immediately accretive to earnings and to leverage on their robust distribution network, synergies in cost mgt and goodwill to expand their presence in the South Pacific region.
Stock currently trades at 21.2X P/E.
No comments:
Post a Comment