“Catalogue of Russian Beer Producers 2020” includes 1285 businesses ranging from large subsidiaries of international companies to rather small restaurant and craft breweries.This issue has 171 more breweries compared to 2018 (155 business have been excluded and 326 have been included).Starting from 2019, FTS has been publishing data on excise payments by brewers (delayed by 1.5 years), that can be translated into beer equivalent for most of producers.Depending on the volumes, we ranked the brewers that provided information by 6 groups (see pic.). At one end of the production spectrum there are 2/3 of breweries outputting less than 10 thousand decaliters. Their net share amounts to as little as 0.2% of the total beer output volume. On the other end there are 6 federal groups accounting for almost 80%. ...
Dmitry Nekrasov’s Philosophy — on the Past, Present and Future of Ukrainian Brewing IndustryA meeting with Dmitry Nekrasov always turns into a training course: “Introduction to brewing business“. We are talking to a clever “playing trainer“ a person that can be called a godfather of the Ukrainian craft. He has a dozen of successful projects to his name. Dmitry told us about craft beer in Ukraine, on market cycles, on specifity of operating in retail and HoReCa, on union of Ukrainian brewers and certainly, how a brewery of his own, First Dnipro Brewery is doing.
The market of import beer in Russia: review and databasesThe market of import beer is rapidly growing and changing. But while in the past years it was growing due to brands variety, in 2019 major and affordable brands from TOP-10 were developing actively. It seems that the fact of a brand origin from far abroad counties, even if it is not well known but has moderate price and good distribution provides for million liters of sales in the territory of Russia. Among distributors AB InBev Efes was far behind, yet the role of Baltika and suppliers of the second row got more important. The boom of German brands was followed by stagnation of import from other traditional regions (and Belarus) instead the supplies from Mexico, Lithuania and Asian countries grew considerably.
Russia: Positions of Brewing CompaniesThe review contains an analysis of interim performance of brewers in the first half of 2019. There are rather dynamic changes behind a modest industry growth. Baltika is again experiencing a stage of volumes and market share slid due to competition with AB InBev Efes. Because of the price competition and presence expansion in the modern trade company #2. has come close to the leading position. At the same time sales of Heineken Russia have continued growing which makes the premium part of the portfolio heavier. The market premiumization trend had been also confirmed by import brands. MBC and Zavod Trekhsosenskiy have been the most successful among federal market players. The market share of independent regional brewers and Ochakovo have continued falling as they are being squeezed out by the market leaders at their competitive fields.
Ukrainian beer market 2019: companies and brandsIn 2019 beer production and market have been still fluctuating about zero point. However, the past season was successful for brewers judging by the sales profitability. The price mix has improved due to rapid general market premiumization, as well as its particular aspect, the growth of import beer sales. By the season end AB InBev Efes improved its positions considerably. It turned out that consumers had not forgot Efes brands that had to leave the market, but started to recover rapidly. Against the stagnating market that meant sales decline of other companies, in the first place Carlsberg Group that most of all beneficiated from Efes exiting the market. PPB turned out to be stable to branding activity of its competitor and Obolon kept the same volumes and at the moment it is the absolute leader of the economy segment. The share growth of independent producers took place thanks to leading craft breweries, that so far do not have a big market weight, but they are rapidly gaining it.
Brewing industry in Kazakhstan 2019During the first half of 2019, the majority of Kazakh brewers made their contribution into positive dynamics. Yet it was companies of the lower division, not the two transnational leaders that raised their production and sales. The shares of draft beer and aluminum can which is rapidly squeezing glass bottle out of the market, have been growing. The price segmentation has remained stable despite the substantial rise of retail prices and fluctuations of brand market shares, while the borders between segments have become blurred. The main events in the industry have been: the announced revision of the beer excise policy, launch of BeerKhan brand in the strong beer segment, and most important – purchasing assets of Shymkentbeer by Arasan.
Cerveceria Nacional Dominicana announces tender to improve debt profile
The Tender Offer is scheduled to expire at 5:00 P.M., New York City time, on May 5, 2011, unless extended by the Company. The total consideration for each US$1,000 principal amount of Notes properly tendered at or prior to the Early Tender Time (as defined below) and accepted pursuant to the Tender Offer will be an amount (in U.S. Dollars) equal to (i) the Dominican Peso Equivalent Price of $1,056.25 (which price corresponds to a Dominican Peso-equivalent yield of 9.1866%, such yield calculated as of the expected Settlement Date (as defined below) in accordance with standard market practice by the Dealer Manager (as defined below)) multiplied by (ii) a ratio equal to the Original FX Rate (as defined below) divided by the Final FX Rate (as defined below) (such ratio, the “FX Ratio”). The Total Consideration includes an early tender payment of US$30.00 per US$1,000 principal amount of Notes (the “Early Tender Payment”). The Early Tender Payment is payable only to Holders who validly tender their Notes at or prior to the Early Tender Time of 5:00 p.m., New York City time, on April 20, 2011, if such Notes are accepted pursuant to the Tender Offer. Holders who tender their Notes after the Early Tender Time and at or prior to the Expiration Time will be entitled to receive the Total Consideration minus the Early Tender Payment (the “Purchase Price”), if such Notes are accepted for purchase.
In addition, Holders whose Notes are accepted pursuant to the Tender Offer will receive accrued interest (“Accrued Interest”), which will be an amount (in U.S. Dollars) equal to the Nominal Accrued Interest multiplied by the FX Ratio. The “Nominal Accrued Interest” will equal the interest per US$1,000 principal amount of the Notes accrued on the Notes at the contractual interest rate of 16.000% (and not adjusted in any way for currency exchange rates), from and including the immediately preceding interest payment date to but excluding the Settlement Date (as defined below). The Company expects to accept the Notes for purchase promptly after the Expiration Time (the “Acceptance Date”). The Company will pay the Total Consideration or the Purchase Price for the Notes, as the case may be, on or promptly after the Acceptance Date (the “Settlement Date”).
The Original FX Rate is RD$32.7863 per US$1.00, such rate having been specified by the Company when the Notes were issued, as part of the terms of the Notes, to be used in calculating the actual amounts payable on the Notes.
The Final FX Rate will be the exchange rate for Dominican Pesos per U.S. Dollar for the date that is the FX Determination Date (as defined below), as published by the Central Bank of the Dominican Republic in accordance with its customary practice on the following business day in the Dominican Republic. The “FX Determination Date” shall be April 20, 2011, unless extended by the Company in its sole discretion, but in no event later than the tenth business day prior to the Expiration Time. ”Business day” for purposes of the Tender Offer means any day, other than Saturday, Sunday or a federal holiday in the United States, and consists of the time period from 12:01 a.m. through 12:00 midnight, New York City time.
A hypothetical calculation of the Total Consideration, Purchase Price and Accrued Interest is set forth on Schedule I to the Offer to Purchase.
The Tender Offer is conditioned upon the following events having occurred or been waived: (i) satisfaction of the Financing Condition, as described in the Offer to Purchase and (ii) satisfaction of other general conditions described in the Offer to Purchase. The Tender Offer is not conditioned upon any minimum number of Notes being tendered.
Tenders of Notes may be validly withdrawn at any time prior to the withdrawal deadline which is 5:00 p.m., New York City time, on April 20, 2011, unless extended (such time and date, as the same may be extended, the “Withdrawal Deadline”). Tendered Notes may not be withdrawn after the Withdrawal Deadline unless the Company (i) makes a material change in the terms of the Tender Offer that is, in the Company’s determination, adverse to the interests of tendering holders of the Notes or (ii) is otherwise required by law to permit withdrawal.
The Company is not soliciting consents to modify any of the covenants in the indenture governing the Notes. Any Notes that remain outstanding after the termination of the Tender Offer will continue to be the Company’s obligations. Holders of those outstanding Notes will continue to have all the rights associated with the Notes and the indenture governing the Notes.
The complete terms and conditions of the Tender Offer are described in the Offer to Purchase, dated April 7, 2011, of the Company (the “Offer to Purchase”) and the related letter of transmittal (the “Letter of Transmittal”). The Company has engaged Citigroup Global Markets Inc. to act as dealer manager (the “Dealer Manager”) in connection with the tender offer. Questions regarding the Tender Offer may be directed to Citigroup Global Markets Inc. at (212) 723-6108 (collect) or (800) 558-3745 (U.S. toll-free). Requests for documentation may be directed to D. F. King & Co., Inc., the information and tender agent for the Tender Offer, at (212) 269-5550 or (44) 20 7920 9700 (for banks and brokers) or (888) 644-5854 (U.S. toll-free) or as otherwise provided on the back cover of the Offer to Purchase.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Tender Offer is being made solely by the Offer to Purchase.
The Tender Offer is not being made in the Republic of Italy.
The communication of the Offer to Purchase and the Letter of Transmittal and any other documents or materials relating to the Tender Offer are not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of Section 21 of the United Kingdom’s Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom.
The Offer to Purchase and the Letter of Transmittal are only being distributed to and are only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (iii) high net worth entities falling within Article 49(2)(a) to (d) of the Order or (iv) any other person to whom the Offer to Purchase and the Letter of Transmittal and such other documents or materials may otherwise lawfully be made in accordance with the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which the Offer to Purchase and the Letter of Transmittal relate is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on the Offer to Purchase and the Letter of Transmittal or any of their contents.
SOURCE Cerveceria Nacional Dominicana, S.A.
12 Апр. 2011