OREANDA-NEWS. On 25 August 2008 was announced, that Baltika Breweries completed the purchase of a brewery in Baku (the Republic of Azerbaijan).

Baltika Breweries and Brasseries Internationales Holding (Eastern) Ltd (BIH Eastern) signed a contract for the purchase of the Baku-Castel Brewery on 15 May 2008.

After having received the official clearance from the State Antimonopoly Service of the Republic of Azerbaijan approving the deal, the shares, belonging to the seller, have been re-registered as Baltika Breweries’ shares.

The production capacity of the Baku brewery amounts to 7.2 mln decalitres. Baltika Breweries is planning to invest as much as USD 20 million in its reconstruction. Baltika has been shipping beer to Azerbaijan since the year 2000 and there has been a positive growth trend in sales over the course of the last seven years. On the results of H12008, the Company’s export sales in the Republic rose by 46%, compared to the same period of 2007. A positive evaluation of prospects for growth and the Baku-Castel’ status of the key player led Baltika to decide to purchase the brewery in Azerbaijan.

The Company’s business abroad is developing successfully. The Baltika brand is produced under license agreements in the Ukraine and in Great Britain. Before the end of the year, licensed production will be launched in Uzbekistan. The Company’s products are exported to 50 countries around the world.