Anheuser-Busch InBev and Anadolu Efes, Turkey’s largest brewer announced on Wednesday that they have agreed to merge their businesses in Russia and Ukraine as part of an effort to bolster their businesses in a slowing market.
The Russian market which was once embraced by big international brewers has declined in recent years due to a weak economy, international sanctions and government regulation to curb drinking by raising taxes and limiting sales.
Coca-Cola HBC AG, the second-largest bottler of Coca-Cola products said that strong sales in Nigeria, Romania and Ukraine were more than making up for its struggles in Russia, the company’s biggest market, reports Bloomberg.
On Nigeria, “Obviously oil at $50 [a barrel] is not great news for them, but we have been focusing on the things we control,” said Dimitris Lois, the chief executive, who highlighted the company’s successful ‘Share a Coke’ marketing campaign in the country.
