Phoenix Beverages and its counterpart Stag Beverages are again being talked about in the news side by side. The former recently made the acquisition of the brand Eski from Stag Beverages.
From Stag Beverages to Phoenix Beverages has been the journey of the popular drink Eski. The Chief Executive Officer (CEO) of Phoenix Beverages, Bernard Theys, has announced that the firm is making the acquisition of the brand Eski, adding to it to its existing range of products. The decision was made public during the official presentation of the financial statement of the company for the year 2013-2014.
It was also revealed that Phoenix Beverages has recorded profits of Rs 654 million. Its CEO explained that the profits have allowed them to take over the brand Eski.
Earlier this year, in June, the two companies were in the news for completely different reasons. They both had to incur financial penalties, having been accused of violating article 41 of the Competition Act: it was said that they had diluted the competition between each other by coming to a common agreement whereby Phoenix Beverages let go of the beer market in Madagascar and having, in return, Stag Beverages being more lenient when it comes to vying with each other on the local market.