ETHIOPIA – BGI Ethiopia, a prominent brewery company in Ethiopia, has officially terminated the sale of its headquarters near Mexico Square to Purpose Black Ethiopia, citing a perceived lack of genuine commitment from the buyer. 

This decision, a significant development for both entities, follows BGI’s dedicated efforts to finalize the transaction, despite the alleged failure of Purpose Black Ethiopia to conclude the sales process. 

In a company statement, BGI-Ethiopia clarified, “Consequently, in accordance with the conditions outlined in the Earnest Agreement initially executed by the parties, the transaction has been officially terminated.” 

This development comes after BGI’s announcement in July 2023 regarding the finalization of the agreement to sell the headquarters.  

The intended move aimed to facilitate the brewery’s relocation to the MetaAbo plant, acquired from Diageo, aligning with BGI’s long-term vision to double its business within the next five years. 

In December, BGI-Ethiopia launched Vision 2028, a comprehensive expansion project designed to transform the company and strengthen its market leadership.  

The initiative involves substantial investments in operations, production networks, and distribution models, with a focus on creating shared opportunities for employees, the local community, and consumers. 

Part of this investment plan includes the planned relocation of the Addis Ababa plant and an increase in production capacity at the Sebeta and Maichew breweries.  

BGI-Ethiopia, a subsidiary of Castel Group has been serving Ethiopia for over 25 years. The company’s brand portfolio includes a range of beers such as St. George Beer, Castel Beer, Meta Beer, Draught (draft) beer, and Wine brands such as Acacia, and Rift Valley Wines. 

Currently employing approximately 3,500 permanent and 2,000 casual workers across seven plants in Ethiopia, BGI-Ethiopia remains a leading platinum taxpayer in its industry, contributing over 7.4 billion Birr (US130.32M) annually in taxes. 

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