Fins Buys Norwegian Wine Giant
Carin Pettersson - November 13, 2004
The Finnish alcohol producer and importer Altia Corporation is buying the Scandinavian Beverage Group (SBG), the group that dominates the wine market in Norway.
The takeover is a part of Altia’s strategy to gain access to all the Nordic countries. The purchase though, must be approved by the Finnish competition authority.
SBG operates in the Nordic countries with several different import and sales companies within alcoholic beverages. The group has the market majority for wine in Norway, number two on the Swedish market, a significant portion in Finland, and the company is also represented in Denmark.
SBG will, along with its subsidiaries, continue its business in one of Altia’s business areas. The total pro forma turnover of Altia and SBG would amount to about EUR 430 million, and the companies will jointly have 900 employees.
|Originally Published on ©2004