Boston, MA -- (SBWIRE) -- 07/18/2012 -- The Czech consumer outlook continues to remain extremely challenging. In light of a still weak economic outlook for the German economy, we hold to our forecast for the Czech Republic to experience lacklustre growth this year. We forecast a mere 0.1% real GDP growth this year, down from 1.7% in 2011. Weakened external demand and persistently depressed consumer sentiment, part ongoing fiscal austerity measures, will continue to impede activity.
Headline Industry Data (local currency)
- 2012 per capita food consumption = -0.1%; forecast to 2016 = +6.7%
- 2012 beer volume sales = -0.4%; forecast to 2016 = +0.16%
- 2012 confectionery volume sales = +2.3%; forecast to 2016 = +12.8%
- 2012 mass grocery retail (MGR) sales = -3.1%; forecast to 2016 = +5.1%
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Key Company Trends
Molson Coors Acquires StarBev: In early 2012, US-Canadian brewer Molson Coors announced the acquisition of StarBev from private equity group CVC in a deal worth EUR2.65bn. StarBev operates nine breweries in Central and Eastern Europe (CEE) and generated sales of approximately EUR0.7bn in 2011. The acquisition will help Molson Coors as it looks to extend sales beyond its core markets of the US, Canada and the UK as StarBev's core markets are in CEE. The brewer plans to use StarBev, whose flagship beer is the Czech brand Staropramen, as a platform for growth and to sell its existing brands such as Carling.
Iceland Launches In Czech Republic: British frozen food retailer Iceland Foods has opened a pilot outlet in Plzen. The company, which was looking for growth opportunities in Hungary, the Czech Republic and Poland for about 18 months, aims to expand its business footprint in Eastern Europe. It opened the 2,500- square-foot store in conjunction with local franchise partner Czechfrost and it will act as a test for the market. Expansion, if it goes ahead, will not be part of a franchise arrangement as in other overseas territories.
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