Through the merger Carlsberg and Fix seek to create a new company to challenge the dominance of the Athenian Brewery.
The Carlsberg Greek subsidiary, Mythos Brewery will merge with the Olympic Brewery which is owned by the Chitou family. The Danish company will control the new group with 51% of shares, with the remaining 49% belonging to the Chitou family.
The president of the new company will be Lars Lehmann of the Carlsberg Group while the CEO will be Alexandros Karafillides, the current CEO of the Mythos Brewery (also from the Carlsberg Group).
The new company will have a 29% market share of the Greek beer market and hopes to further erode the market share of the dominant player, Athenian Brewery, a subsidiary of the Dutch giant, Heineken.
Before the merger Mythos had the second largest market share with Fix brands in third place and gaining in popularity.
“The merger with Olympic Brewery and the creation of a strong number two player in the Greek market represents a step-change for our local business,” Carlsberg Chief Executive Jorgen Buhl Rasmussen told Reuters.