ADDIS ABABA – BGI Ethiopia said it has secured the approval from the government to proceed with the acquisition of Meta Abo brewery from Diageo.
BGI, part of Castel Group, and Diageo entered into an agreement for the sale of the brewery, located in Sebeta town, in January, 2022.
The acquisition, however, needed to get approval from Ethiopian Trade Competition and Consumer Protection Authority (TCCPA).
On Wednesday, the BGI Ethiopia management announced that the company has secured ICCPA’s approval to proceed with the acquisition of the brewery.
“I feel honored to be part of this momentous occasion,” said Laurent Lescuyer, BGI Ethiopia’s CEO, told reporters in a press briefing held at the Meta Abo Brewery on Wednesday
The CEO has “expressed his gratitude” to TCCPA “for the speedy and professional support that was extended to us.” while approving the deal.
“To Meta Abo brewery -Executives, Employees’, the Sebeta community and partners – I welcome you to the BGI family – We have an exciting vision that will see Meta bigger and better than before, and I am committed to see that through,” Lescuyer said.
Prior to TCCPA’s approval, employees of Meta Abo have been expressing concerns after their previous employer put them in the dark about the brewery’s transition and their future.
Alfiya Abdu, the Mayor of Sebeta, has welcomed BGI Ethiopia to the city.
“It is our firm belief that BGI Ethiopia will restore Meta’s glory and reputation by repeating the same success which we have witnessed in other areas,” he said.
“We are convinced this acquisition will save jobs and enhance economic activity in and around Sebeta.”
Sebeta will take the number of cities where BGI Ethiopia’s breweries are located to seve, the others are situated in Addis Ababa, Zeway, Hawassa, Kombolcha, Zebidar, and Raya.
The acquisition of Meta brewery is expected to boost BGI’s current production capacity from 5,200 000 hectoliter(HL) to 6,400 000HL.