E-Malt.com News article: 361

The Dutch brewer Heineken has concluded an agreement with two Central American brewers to establish a strategic business alliance to further develop their business in Central America. Heineken plans to purchase 25% share in the Costa Rican brewery Florida Bedidas S.A. (FB), the main subsidiary of FIFCO, and 25% participation of FIFCO’s stake in the Nicaraguan brewery Consorcio Cervecero Centroamericano S.A. (COCECA). The acquisition will be worth around USD 229 million.

The relationship between Heineken and FIFCO originates from 1986 when FIFCO started to brew Heineken beer for the Costa Rican market. Recently, FIFCO also began brewing Heineken for export in the Central American region.

The volume of Costa Rican beer market is 1.3 million hl a year (35 litres per capita) and is expected to grow further. "The acquisition is another step in Heineken's drive for an optimal balance in its activities between mature and growing beer markets," Heineken said.


18 September, 2002