Interbrew plans to buy Becks for £1.1bn

Interbrew plans to buy German brewer Becks for £1.1bn.

The Belgian company says the acquisition will strengthen its range of international beer brands.

The deal is subject to approval by shareholders and regulators.

Hugo Powell, Interbrew chief executive says, Beck's provides an excellent fit with its strategy of acquiring and developing strong brands in local markets.

He said: "It is a unique premium brand, well positioned in Germany and internationally and, as such it offers superior volume and value growth potential."

Beck's is the fourth largest brewer in Germany with one of the leading premium brands on the domestic market.

Interbrew says Beck's is the most important German brand internationally, with 60% of its beer exported and it has a presence in more than 120 countries.