Heineken has refused to be drawn on reports in Ethiopia that the brewing giant has struck a deal to buy local business Komari Beverage.
According to local publication Capital, Heineken has reached an agreement to acquire Komari Beverage, which owns hard-seltzer brand Arada.
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Unnamed sources told Capital a deal was finalised last week and will be officially announced “in the next couple of weeks”.
Komari Beverage, which has its headquarters in Addis Ababa, Ethiopia’s capital, was set up in 2017. Former Diageo executive Kifflé Yohannes Abebe co-founded the company and is its CEO.
Heineken, which has a brewery close to Addis Ababa, sent a short statement when approached by Just Drinks.
“We are aware of the recent media coverage in Ethiopia however it is our policy not to comment on rumours and speculation in the market,” a spokesperson said.
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By GlobalDataThe Amstel brewer does not disclose detailed sales figures for individual markets. In Heineken’s 2023 annual report, the company said its business in Ethiopia “reached an all-time high in volume and revenue growth, extending our market leadership”.
As well as selling Heineken beers in Ethiopia, the Dutch giant also owns the Harar beer brand.
Heineken’s direct manufacturing presence in Ethiopia dates back to 2011 when the group acquired the Bedele and Harar breweries from Ethiopia’s government.
The company subsequently built a greenfield plant in Kilinto on the outskirts of Addis Ababa, where production started four years later.
