Heineken remains silent on reports of Komari Beverage acquisition in Ethiopia 

ETHIOPIA – Heineken has declined to comment on reports that the global brewing giant has reached an agreement to acquire Ethiopia-based Komari Beverage.  

The speculation, first reported by Ethiopian publication Capital, suggests a deal was recently finalized and will be officially announced within the next few weeks. 

Komari Beverage, established in 2017 and headquartered in Addis Ababa, is known for its hard-seltzer brand Arada, which has gained significant market traction in Ethiopia. 

According to Capital, unnamed sources confirmed that the deal had been concluded last week, although no official statement has been made by either party. 

A Heineken spokesperson told Just Drinks, “We are aware of the recent media coverage in Ethiopia; however, it is our policy not to comment on rumors and speculation in the market.” 

Komari’s production facility, located in the Cheki area of North Showa Zone in the Amhara Region, has a production capacity of 27,000 bottles per hour.  

The factory, which became operational in 2020, was built by Ethiopian investors at a cost exceeding US$29 million. Despite being a relatively new player, Komari has quickly established a significant share of the local beverage market. 

Heineken, which entered the Ethiopian market in 2011 by acquiring Harar and Bedele breweries from the government for US$163 million, continues to expand its presence in Africa.  

In 2023, Heineken acquired Namibia Breweries Limited (NBL), the brewer of Windhoek beer, and Distell Group Holdings Limited expanding its presence in Africa.  

Heineken Beverages has also formed a strategic partnership with Tanzanian company Mabibo Beer, Wines, and Spirits, which previously held exclusive rights to import Windhoek beer in the country.    

The Dutch brewer currently holds a leading position in Ethiopia’s beer market, selling popular brands like Walia, Harar, and Bedele, in addition to its flagship Heineken beer. 

Heineken’s Ethiopian operations saw record growth in volume and revenue in 2023, according to its annual report, although detailed sales figures for individual markets were not disclosed.  

Heineken’s global business continues to perform well, with the company reporting a 2.2% increase in net revenue for the first half of 2024, reaching €17.8 billion.  

However, operating profit dipped by 4.3% due to exceptional net expenses related to brewery closures and hyperinflation. 

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