Carlsberg Group forms JV with Myanmar Golden Star Breweries; JV will build new brewery in Myanmar, market Carlsberg's beers in the country
February 1, 2013
– Danish beer maker Carlsberg A/S (CPH:CARL-A) said today it had formed a joint venture with Myanmar Golden Star (MGS) Breweries Co Ltd under a strategic partnership agreement with the Myanmar soft drinks producer.
The JV, in which Carlsberg holds a 51% stake, will build a new greenfield brewery and will market the Danish firm's beers in the Asian country.
The partnership represents Carlsberg's first step into Myanmar and is seen as a significant move in its efforts to expand its presence in the country's beer market, which is expected to grow strongly in the following years, the Danish firm said.
On the other hand, the JV will allow MGS Breweries to play a major role in the development of the beer category in the country, Thant Zin Tun, vice chairman of MGS Breweries's parent Myanmar Golden Star (MGS) Co Ltd said.
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