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Carlsberg Acquires Olympic Brewery

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Carlsberg has just acquired Greece's third biggest beer company, Olympic Brewery.

The Danish company continues to advance its enterprises in Greece and today stated that it will have an approximate 29% market share; placing it only behind Dutch competitor Heineken.

Carlsberg Chief Executive Jorgen Buhl Rasmussen commented, "The merger with Olympic Brewery and the creation of a strong number two player in the Greek market represents a step-change for our local business."

Olympic Brewery generates 550,000 hectolitres each year, while Carlsberg holds a gross volume of 139 million hectolitres. The Danish brewing company is the forth biggest brewer worldwide. Carlsberg is set to own 51% of Olympic Brewery and Olympic Brewery will hold on to the other 49%.

Fix is Olympic Brewery's most popular brand, while Mythos is administered by Carlsberg. Lars Lehmann from the Carlsberg Group has been deemed the New Olympic Brewery Chairman and Alexandros Karafillide of the Carlsberg Group will serve as its Chief Executive.

(Source: Reuters)