E-Malt.com News article: 2819

Philippine food and drink conglomerate San Miguel Corp. said on June 16 it has completed the acquisition of the brewery assets of Thai Amarit Brewery Ltd. San Miguel paid Thai Amarit 3.9 billion baht ($1=THB40.785) for the brewery assets, which include a modern and fully equipped brewery on a 21.75-hectare site in Pathum Thani north of Bangkok, according to Dow Jones.

The completion of the acquisition follows San Miguel's announcement earlier this month that it has received the green light from Thailand's Ministry of Finance to produce beer in Thailand.

With the acquisition of the Thai Amarit brewery, which has an annual capacity of about 1 million hectoliters of beer, San Miguel would gain access to the Thai beer market, currently Southeast Asia's largest. The acquisition also offers potential synergy with other San Miguel projects in Thailand and the region, particularly with San Miguel (Thailand) Co., the Philippine conglomerate's venture in Thailand's Amata City Industrial Estate in Rayong.

San Miguel plans to manufacture and distribute beverage products, processed food and animal feeds in Rayong. San Miguel said Thai Amarit's Pathum Thani site still has around 11 hectares that can be used for future expansion. Aside from the Pathum Thani site, San Miguel also acquired Thai Amarit's 2.4-hectare property at the Bang Po area of Bangkok.

San Miguel has set aside $700 million for its overseas expansion plans and has so far spent or earmarked around $300 million for investments in Thailand, China and Vietnam.


23 June, 2004