SABMiller Buys Argentine Brewer, BMI Cautious On Country Outlook

Beer giant SABMiller has announced the purchase of Argentina's third largest brewer, Casa Isenbeck, which is currently owned by Germany's Warsteiner. Casa Isenbeck controls 7% of the local market and in 2009 generated sales volumes of around 600,000 hectolitres (hl). Financial details of the transaction have not been released, but with the firm reporting gross assets of US$24.7mn and operating just one brewery, with a capacity of 1.2mn hl, BMI would be surprised if SABMiller's valuation of the business surpassed US$50mn.

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