Heineken NV Signs Binding Agreement to Divest Finnish Hartwall Business to Royal Unibrew; Agrees on Principles of Licensing Agreement with Royal Unibrew

Thursday, 11 Jul 2013 01:01am EDT 

Heineken NV announced that it has signed a binding agreement with Danish Royal Unibrew A/S (Royal Unibrew) for the sale of its Finnish multi-beverage business Oy Hartwall Ab (Hartwall). The total enterprise value of the transaction amounts to approximately EUR470 million. The transaction is expected to close in the fourth quarter of 2013 at the latest and is subject to customary closing conditions, including anti-trust approvals. Heineken NV and Royal Unibrew have also agreed on the principles of extending their existing partnership to the effect that, for the next ten years, Royal Unibrew will obtain a license to brew Heineken beer for Finland, Estonia, Latvia and Lithuania. At the moment Royal Unibrew already brews the Heineken brand in Denmark and distributes the brand in the Baltic countries. In addition, Hartwall will remain the exclusive distributor of Heineken NV's global and international brands in Finland, including Sol, Strongbow, Newcastle Brown Ale, Krucovice and Murphy's Irish Stout, and will continue to brew Foster's beer under license in the country. 

Company Quote

31 Mar 2015