DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Drinks

Heineken To Invest $244m In Brazil By 2020 To Double Capacity: Paper

By Dayeeta Das
Share this article
Heineken To Invest $244m In Brazil By 2020 To Double Capacity: Paper

Heineken, the world's second-largest brewer, will invest R$985 million ($244 million) in Brazil to double its production capacity, CEO Mauricio Giamellaro told the Valor Econômico newspaper in an interview published on Friday.

The investment, which started in January and is expected to be concluded by June 2020, is the largest by the Dutch brewer in Brazil since it acquired the local operations of Japan's Kirin in 2017 for R$2.2 billion, the newspaper said.

The maker of Heineken, Amstel and Eisenbahn has set a goal of double-digit growth in the mainstream and premium segments in Brazil, Giamellaro told Valor, adding a fall in sales volumes seen in the third quarter is unlikely to persist.

He said he expects the Brazilian beer market to sustain growth of 3% per annum over the next three years, the newspaper reported.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.