Brewing giant Heineken International B.V. has announced that it has acquired a minority stake in Belize Brewing Company Ltd (BBC), a subsidiary of Bowen & Bowen Ltd, based in Central America.
BBC has been an importer and distributor of Heineken brands including Heineken, Amstel and Red Stripe in Belize since 2016. The financial terms of the deal have not been disclosed.
Marc Busain, President Americas at Heineken, said, "We are delighted to announce the new partnership with Belize Brewing Company and the Bowen family.
“We recognise BBC's strong capabilities and position in the country, which has a fast-developing tourism industry and stable GDP growth and offers a lot of potential to grow our premium offering, led by the Heineken brand. We look forward to continue growing together."
In addition, Michael Bowen, President/CEO at Belize Brewing Company Ltd, added, "We welcome Heineken as our new partner. Heineken is a world-class family-owned company that shares our values. We look forward to improving and growing our company with the help of our strategic partner."
Heineken recently announced that it increased its beer sales for the first quarter of its financial year, with volume increases in Asia and the Americas countering weakness in Europe.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O'Sullivan. Click subscribe to sign up to ESM: European Supermarket Magazine.
