The Prague office of Clifford Chance played a key role in advising Czechoslovak Commercial Bank and Česká spořitelna on the financing of the acquisition of the Pivovary CZ group, which includes renowned beer brands such as Holba, Zubr, Litovel, through the acquisition of a majority stake by the Kofola group, together with the investment group RSJ and the agricultural group Úsovsko.
The transaction also includes the acquisition of FONTÁNA PCZG, whose main focus is the wholesale of beer and soft drinks. With this transaction, the Kofola Group will expand its portfolio with traditional Czech beer brands and strengthen its position in the Czech beverage market. The parties have agreed not to disclose the price of the transaction.
Miloš Felgr, partner and head of Banking & Finance at Clifford Chance, said: “The success story of Kofola is very inspiring. It was an honour to work for the financing banks on a transaction that is not only a strategic entry of Kofola into the brewing industry, but also ensures the continuation of the valued Czech beer brands.”
Pivovary CZ Group is the fifth largest brewing group in the Czech Republic with an annual production of over 800,000 hectolitres, of which more than a third is exported. The breweries in Hanušovice, Přerov and Litovel employ almost 500 people.
Kofola Group is one of the leading producers and distributors of soft drinks in Central and Eastern Europe. In addition to the traditional Czechoslovak market, where it is the market leader, the Group also operates in Slovenia, Croatia and Poland. Key own brands include Kofola and Vinea carbonated beverages, Radenska, Studenac, Rajec, Ondrášovka and Korunní waters, Jupí syrup, Jupík children’s drinks, Semtex energy drinks and UGO fresh juices and salads.
Clifford Chance’s financing advisory team was led by senior associate Hana Čekalová and supervised by partner Miloš Felger. The team was further complemented by associates Ondřej Šteco and Sára Bartlová.