In November 2009, the Carlsberg Group and Hue People's Committee signed a Memorandum of Understanding confirming the Committee's support for the Carlsberg Group to acquire the Committee's 50% shareholding in Hue Brewery Ltd. This process has now been completed and the Carlsberg Group will consequently increase its shareholding in Hue Brewery Ltd. from 50% to 100%.
Hue Brewery Ltd. is the market leader in Central Vietnam with its strong local brand, Huda. In addition, the product portfolio consists of brands including Festival, Carlsberg and Eve. Hue Brewery Ltd. operates two breweries in Hue province and produced approximately 1.7m hl of beer in 2010.
Commenting on the acquisition, CEO Jørgen Buhl Rasmussen says: “Since we acquired the initial shareholding in Hue Brewery in 1994, we have been very pleased with the performance of the business and have had an excellent working relationship with the Hue People's Committee. As a very committed strategic foreign investor, we will continue to work closely with the Hue People's Committee. The future prospects of Hue Brewery are very exciting and we will continue to support the business to the benefit of all stakeholders."
Investor Relations:Peter Kondrup +45 3327 1221
Ben Morton +45 3327 1417
Jens Bekke +45 3327 1412