Heineken Acquires Majority Stake In Ecuadorian Brewer
Heineken N.V. has announced 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.OK
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.
Potential For Growth
“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,” Marc Busain, President Americas at Heineken.
“We are excited to grow our business in Ecuador in close collaboration with our new partners.”
In addition to Biela, Heineken intends to market its portfolio of premium and international brands, led by Heineken, in Ecuador in the future.
The brewer also plans to brew Heineken beer locally in due course.
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”.
Heineken highlighted the attractiveness of the Ecuadorian market, with a GDP projected to g row at a 5.7% rate (CAGR) in the next ten years.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.