Molson Coors Beverage Company has signed a multiyear agreement with Companía Cervecera de Nicaragua (CCN) to launch its Miller Lite beer in Nicaragua.

Under the agreement, CCN will brew, market and distribute Molson Coors’ Original Light Beer across Nicaragua as a premium international brand from the fourth quarter of this year.

The companies did not reveal the financial terms of the agreement.

Molson Coors Latin America vice-president Chris Wensel said: “We’re excited about expanding further into Nicaragua and continuing to grow throughout the region.

“With this deal, we’re able to close a white space in our footprint, and we’re able to team up with the strongest beer partner possible.”

Established in 1926, CCN is said to be the largest brewer in Nicaragua region and produces beer brands such as Victoria Frost, Mytos and Toña and Toña Light.

Molson Coors already has a relationship with the Latin American company, under which CCN is serving as Miller Lite contract brewer and export it to Honduras.

With this deal, Molson Coors aims to expand its presence in the Latin American market.

In the Latin American region, the company’s brands are available in Mexico, Panama, Honduras, Puerto Rico, Argentina, Paraguay, and Chile.

Wensel explained that Miller Lite could play a key role in CCN’s portfolio and help the brewer to develop its premium international segment.

In April, Molson Coors expanded its partnership with Canadian cannabis firm HEXO to form a new joint venture (JV) company, Truss CBD USA. The JV company will make non-alcohol hemp-derived cannabidiol (CBD) beverages in Colorado.