Nov 01, Colombo: Sri Lanka's Carson Cumberbatch group which owns Lion Brewery has concluded the acquisition of Millers Brewery, from Cargills Ceylon Plc.
Carson Cumberbatch on June 20 announced that Lion Brewery, a wholly owned subsidiary of Carson Cumberbatch and Pearl Springs, a subsidiary of Lion Brewery have entered into a sales and purchase agreement with Cargill's PLC to purchase its subsidiary Millers Brewery for Rs. 5.15 billion.
Carson Cumberbatch Group in a stock market disclosure announced that it has now concluded the acquisition of the Trade Marks and the entirety of shareholding of Millers Brewery Ltd. (MBL) through its subsidiaries Lions Brewery and Pearl Springs.
All liabilities of Millers Brewery Ltd. were fully settled by the previous management prior to completion of the acquisition, the company said.
With the acquisition of the trade marks, Lion Brewery has now consolidated the MBL portfolio of brands into Lion's portfolio and will soon commence the brewing of Sando Power, Irish Dark, Sando Stout, Three Coins larger, and Grande Blonde at its production facility in Biyagama.
Meanwhile, pending a detailed evaluation, operations at the MBL brewery in Meegoda will cease temporarily, the company said.
This acquisition of MBL affords Lon Brewery the opportunity to take advantage of supply chain synergies whilst ensuring that loyal consumers of the MBL portfolio continue to have access to their brands of choice, the company said.