Heineken swallows Brazil brewer for €664m
Heineken on Monday showed its thirst for acquisitions, with a €664 million (£564 million) swoop to buy a Brazilian beer producer, just days after its Punch Taverns deal got the thumbs-up from investors.
The Dutch brewer said last month that it was in talks to buy Brasil Kirin Holding, which is behind brands including Schin as well as soft drinks, and operates 12 production facilities. The deal has now been agreed.
The purchase from Japan’s Kirin Holdings will make the Foster’s lager maker the second-largest beer firm in Brazil.
“This transaction marks a step change in scale in an exciting beer market,” said Heineken chief executive Jean-François van Boxmeer.
Completion of the deal is expected in the first half of 2017.
The brewer, working with private-equity firm Patron Capital Advisors, on Friday won shareholder approval to buy Punch Taverns for £403 million.
Heineken will get around 1900 pubs from the takeover.
