The Competition and Consumer Protection Authority (TCCPA) has officially approved the purchase of Meta Abo Brewery by BGI Ethiopia.
TCCPA on Wednesday approved the previous agreement between Meta Abo Brewery S.C. from Diageo; a company previously owned UK-based Beverage Company and BGI Ethiopia, to acquire the former.
The official transfer of ownership of the Meta Abo Brewery Share Company to BGI Ethiopia has been disclosed in a program held in Sebeta town, where Meta Abo Brewery located.
BGI Ethiopia’s CEO Mr. Laurent Lescuyer said during the ownership transfer program that, “I feel honored to be part of this momentous occasion. On behalf of the Castel Group and now the expanded BGI family I would like to express my gratitude to TCCPA and the Ethiopian government at large for the speedy and professional support that was extended to us, a big congratulation to the resilient BGI family who kept the BGI banner high even during adversities.”
“We have an exciting vision that will see Meta bigger and better than before, and I am committed to see that through,” he said.
Alfiya Abdu, Mayor of Sebeta City on her part said on the occasion, “I am happy to see that Castel has invested in Sebeta after its Winery PLC in Batu (Ziway) town.”
“It is our firm believe that BGI Ethiopia will restore Meta’s glory and reputation by repeating the same success which we have witnessed in other areas,” Alfiya said.
“We are hopeful that the acquisition will save jobs and enhance economic activity in and around Sebeta. As such my office is committed to support BGI and its management to have a smooth transition,” she added.
The acquisition will boost BGI’s current production capacity from 5.2 million hectoliter to 6.4 million hectoliter.