Bulgaria: Carlsberg to invest BGN 20 mil in Bulgarian brewery

Danish brewer Carlsberg said on Friday it would invest BGN 20 mil over the next three years in upgrading its Bulgarian subsidiary Shumensko, according to Novinite, June 15.

"On the eve of the 125th anniversary of the Shumensko brand, we want to reaffirm our commitment to invest in the successful development of the brewery and the brand," Shumensko CEO Alexandar Grancharov said in a statement.

"In addition to constant upgrades to our production facilities, we plan to build a new water treatment plant, which will be ready by the end of 2008," he added.

The company has invested BGN 50 M in production upgrades since 2003 and a further BGN 17 M in marketing the brand.

Carlsberg took over Bulgarian brewers Shumensko and Pirinsko in 2002, boosting its stakes in the two companies a year later and merging them to create Carlsberg Bulgaria in 2004.

The company is the third-biggest brewer in Bulgaria with a market share of 22% at the end of last year. Bulgarian per capita consumption of beer is 68 litres, according to Carlsberg data.