Bere Mures producer, the biggest independent player on the domestic beer market is now up for sale. Its owners are trying to find an investor to pay at least 150 million euros. Top contenders in the race for the takeover of this brewer are SAB Miller, which operates in Romania through its Ursus Breweries branch, and an investment fund.
Its officials appraise Bere Mures at approximately 200 million euros; the company's profit stands at about 20 million euros and it has no debts in its balance sheet.
"We are in talks with an European investment fund that is interested to buy the entire business with the three assets, that is the brewery, the mineral water factory and the touristic complex we have, which is the main condition of the deal. Those at SAB Miller are not interested in our mineral water business, which is why I think the investment fund is the favourite," stated Virgil Mailat, general manager and shareholder of the company. Bere Mures, which makes Neumarkt, Dracula and Sovata, entered the mineral water market this year when it launched the Cezara sparkling mineral water and the Cheile Cibului still water.
The company shareholders also own the Germisara touristic complex in Geoagiu Bai, with all its assets located in Mures County.
Bere Mures shareholders previously wanted to sell the company two years ago, with the main candidate back then being InBev, which operates on the domestic market through InBev Romania, the former Interbrew. Both companies confirmed the information at the time.
This year, the company's officials also conducted talks with Baia Mare-based copper producer, Cuprom, which fell through because the price Cuprom offered was lower than asked.
"The value of the company is approximately 200 million euros, if we calculate an EBITDA multiple of 10, yet we want to get at least 150 million euros from the deal," Mailat said.
Bere Mures is held by six individuals, that is Virgil Mailat, Grec Gheorghe and Morariu Emil, who own 75 percent in equal shares together, with the rest being divided among Rus Alexandru, Bacila Nicolae and Rujiu Anghel, according to the information available from the Trade Registry Office.
After five of the six shareholders of Bere Mures had built Silva Reghin the former producer of Bucegi beer more than thirty years ago in 1974, they established Bere Mures in 1994, which is one of the largest independent brewers on the domestic market.
Bere Mures was the first company that introduced the PET bottled beer in 1998, a concept that would revolutionise the beer market in just a few years.
PET bottled beer sales at the end of last year accounted for approximately 40 percent of the total beer market, according to the data supplied by the Romanian Brewers Association, compared with only 3 percent it had in 2001.
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