Capital has heard from sources close to the matter that Arada drinks manufacturer Komari, which has been highly popular with consumers in a short time, has concluded the negotiations to sell its factory to Heineken.
The sources stated that the negotiations for the sale had been going on for several months. The two parties had moved to the final stage of negotiations in July, but it was mentioned that the negotiations were being conducted again following the change in the currency market that came into effect on July 22, 2016.
The sale price will be officially announced at the end of this month, sources said, adding that the two parties will officially take over the factory at the same time.
Komari manufactures 27,000 bottles of various Arada beverage products per hour in the factory built in the Xake area of North Showa Zone, Amhara Region, 96 km northeast of Addis Ababa.
The factory, which came into operation three years ago and was established by Ethiopian investors, cost more than 29 million dollars.
In 2011, Heineken, the world-famous beer manufacturer, joined the Ethiopian beverage market by buying Harar and Bedele breweries from the government for 163 million dollars.