Royal Unibrew completes acquisition of Etablissements Geyer Frères
Etablissements Geyer Frères owns the brands LORINA craft lemonade, PureThé and InFreshhh with focus on organic, local products. The acquisition of Etablissements Geyer Fréres will give Royal Unibrew increased access to the French soft drinks market as well as strengthening its export portfolio, particularly to the US.
Etablissements Geyer Frères has around 100 permanent employees and production facilities in Munster, north-east France, and has a significant presence in the retail channels in France and the US, as well as exporting to around 40 other countries on a smaller scale (its total exports make up around 40% of revenue).
In 2017, Etablissements Geyer Frères’ revenue was DKK 290 million ($46m) and the sales volume amounted to 360,000hl.
Royal Unibrew produces, markets, sells and distributes beverages with a focus on branded products within beer, malt beverages, soft drinks, cider and long drinks. Its main markets are Denmark, Finland, Italy, Germany, Latvia, Lithuania and Estonia; as well as international markets in the Americas, Europe, North America and Africa.
“The acquisition is in line with Royal Unibrew’s strategy of being a focused and strong regional beverage provider holding market-leading positions within beverages in the Nordic and Baltic countries; supplemented by strong niche positions in selected markets and the international malt beverage markets,” says a statement from the company. The acquisition will also allow it to focus on the Americas as a growth region through exports.
The acquisition price is based on enterprise value and amounts to DKK 660 million ($104m) financed by bank debt.
