A PYMNTS Company

Brazil: Heineken wins approval for beer acquisition

 |  May 8, 2017

Brazil’s Administrative Council of Economic Defense (CADE) has approved the purchase of Brasil Kirin by Heineken.

CADE ruled that the operation, which was announced in February, does not generate competitive concerns.

In its ruling, the regulator stated that the acquisition does not cause concentration greater than 20% in the national market nor more than 50% in regional markets.

Brazilian brewery and beverage company Brasil Kirin owns the Devassa, Schin, Baden Baden, Cintra and Glacial beer brands and is also active in the sector of soft drinks and mineral water.

Heineken, which has five breweries in Brazil, paid $40 million for Brasil Kirin’s network of 12 factories.

With Kirin, Heineken now becomes the second largest brewer in the country (behind Ambev) with 19% of the national market, according to figures from research company Canadean.

Full Content: European Supermarket Magazine

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.