SAB expand in El Salvador and Honduras (with US$1.1 billion deal)

South African Breweries plc has acquired a 97 per cent equity interest in Cervecería Hondureña SA, which it plans to combine with El Salvador Beverage Business, a family owned consortium. Cervecería Hondureña is the sole brewer and the largest soft drinks bottler in Honduras. The equity interest in CHSA was purchased from the Dole Food Company Inc. for a cash consideration of US$537 million on a debt free basis. The two deals make South African Breweries plc the largest brewer and bottler in Central America.