Heineken completes acquisition of Brasil Kirin Holding
Dutch brewing company Heineken has completed an acquisition of Brasil Kirin Holding from Kirin Holdings.
On 13 February this year, Heineken entered into an agreement to acquire Brasil Kirin for $664m. On 24 May, the Dutch brewer received the required regulatory approval from the Brazilian Competition Authority (CADE) for the acquisition.
Competition authorities have approved this transaction without any conditions.
Brasil Kirin Holding is one of the largest beer and soft drinks producers in Brazil, operating 12 distribution facilities.
The acquisition of Brasil Kirin Holding is expected to further strengthen Heineken’s brand portfolio and enhance its footprint across the country. It will become the second largest producer of beer products in Brazil.
At the time of entering the agreement, Heineken's chairman and chief executive officer (CEO) Jean-Francois van Boxmeer had said: "This transaction marks a step-change in scale in an exciting beer market, building on our success to date in the premium segment and strengthening our platform for future growth.
“It reiterates our commitment to the Brazilian market and confidence in our ability to generate attractive returns over the long-term across all segments of the market.
“I look forward to welcoming our new colleagues from Brasil Kirin into Heineken and working with them to take the combined business forward."
Heineken expanded its footprint in Brazil through the acquisition of the beer operations of Fomento Económico Mexicano (FEMSA) in 2010. It currently operates five breweries in the country and has a strategic distribution partnership with the Coca-Cola bottlers.