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Guinness moving deeper into the Spanish market with brewery deal.

Guinness moving deeper into the Spanish market with brewery deal

Guinness PLC has designs on moving further into the Spanish beer market with the purchase of Union Cervecera S.A. for a reported $47.5 million, according to a report in the Wall Street Journal.

If the purchase of the brewery, which maintains five to six percent of the market share in Spain, is given regulatory approval, the English brewing and spirits giant will control nearly 30 percent of the Spanish beer market. Several months ago, Guinness bought Cruz dell Campo which owns approximately 22 percent of the market.

The Danish brewer Carlsberg AS currently controls 61 percent of Union Cervecera, and as part of the deal if the purchase is approved, that company would assume a 10-percent of Cruz del Campo.

Carlsberg, which bought control of Union in 1985, reported a loss of nearly $10 million in 1990.
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Title Annotation:Guinness PLC buys Union Cervecera S.A.
Publication:Modern Brewery Age
Date:Jul 1, 1991
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