HEINEKEN enters Ecuadorian beer market with the acquisition of BIELA ECUADOR
May 02 2019 - 11:48AM
Amsterdam, 2 May 2019 - Heineken
N.V. ('HEINEKEN') (EURONEXT: HEIA; OTCQX: HEINY) announces
that it has acquired a majority stake in Biela y Bebidas del
Ecuador S.A. BIELESA ('BIELA ECUADOR') from a group of mainly local
investors.
Over the past few years, BIELA ECUADOR has established its place
in the Ecuadorian beer market by re-launching the Biela® brand. The
BIELA brewery is located in Guayaquil, Ecuador's largest city, and
is fully operational using high-quality brewing and packaging
equipment. In addition to Biela®, HEINEKEN intends to market its
portfolio of premium and international brands, led by Heineken®, in
Ecuador in the future. HEINEKEN also plans to brew Heineken® beer
locally in due course.
Marc Busain, President Americas at HEINEKEN, said: "We are
pleased to announce our investment in Ecuador. With its favourable
demographics, flourishing tourism industry and GDP growth, it
offers a lot of potential to grow our premium offering, led by the
Heineken® brand. We are excited to grow our business in Ecuador in
close collaboration with our new partners."
Luis Enrique Landinez, CEO of BIELA ECUADOR, speaking on behalf
of the group of investors said: "We are very pleased to have
completed this alliance with HEINEKEN, which is good news for
Ecuador and its consumers, who will have a wider and better choice
of beer products. The successful re-launch of the Biela® brand, its
current recognition in the market, and the favourable investment
environment generated by the Ecuadorian Government have
successfully drawn HEINEKEN into Ecuador."
Ecuador is a very attractive market, with GDP projected to grow
at a 5.7% rate (CAGR) in the next 10 years and encouraging
social-economic fundamentals. The Ecuadorian beer market presents a
promising opportunity for HEINEKEN, with a current size of 6
million hectolitres per year and a relatively low consumption per
capita of 39 litres when compared to other South American
countries. In addition, the Ecuadorian government is supportive of
foreign investment and of introducing competition in the beer
market.
Financial terms are not disclosed.
ENDSPress
enquiries
John-Paul Schuirink / Michael FuchsE-mail:
pressoffice@heineken.com
Tel:
+31-20-5239-355
Investor and analyst enquiriesFederico Castillo Martinez
/ Janine Ackermann / Aris HernándezE-mail:
investors@heineken.comTel: +31-20-5239-590
Editorial information
About HEINEKENHEINEKEN is the world's most international
brewer. It is the leading developer and marketer of premium beer
and cider brands. Led by the Heineken® brand, the Group has a
portfolio of more than 300 international, regional, local and
specialty beers and ciders. HEINEKEN is committed to innovation,
long-term brand investment, disciplined sales execution and focused
cost management. Through "Brewing a Better World", sustainability
is embedded in the business. HEINEKEN has a well-balanced
geographic footprint with leadership positions in both developed
and developing markets. It employs over 85,000 employees and
operates breweries, malteries, cider plants and other production
facilities in more than 70 countries. Heineken N.V. and Heineken
Holding N.V. shares trade on the Euronext in Amsterdam. Prices for
the ordinary shares may be accessed on Bloomberg under the symbols
HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS.
HEINEKEN has two sponsored level 1 American Depositary Receipt
(ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding
N.V. (OTCQX: HKHHY). Most recent information is available on
HEINEKEN's website: www.theHEINEKENcompany.com and follow us on
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