Advent Int’l Taps Romanian Brewery Sector

Advent International confirmed its taste for Romanian beer in October when Brewery Holdings, a vehicle owned by funds managed by Advent, Jupiter International Group and Meinl Bank, acquired controlling interests in two more Romanian breweries.

Brewery Holdings acquired majority holdings in Bere Miercurea Ciuc and its distribution arm, Inter-Ciuc, in January of last year. Bere Miercurea in 1994 was the subject of one of Romania’s first management and employee buyouts.

Brewery Holding’s original investment in Bere Miercurea enabled the company to complete the modernisation of its production facilities, doubling its capacity to just under 1 million hectolitres and strengthening its distribution, sales and marketing networks.

The holdings acquired in Grivita International – producer of the Gambrinus brand, one of Romania’s best selling beers – and Haber International, gives Brewery Holdings a share of some 18% in the Romanian beer market and strengthens its lead as the country’s largest supplier of keg beer. The group predicts sales of more than 1.75 million hectolitres this year, which would rank it as the second largest brewer in Romania.

The Romanian beer sector has grown by approximately 35% this year, following a long period of decline. Advent International director George Swirski said Romania’s beer consumption levels remain substantially below average regional and West European levels, leaving plenty of potential for further growth.