Brazil’s Administrative Council of Economic Defense (CADE) has approved the purchase of Brasil Kirin by Heineken.
The Brazilian antitrust authority ruled that the operation, announced in February, does not generate competitive concerns, reported daily O Estado de Sao Paulo.
In its ruling, CADE 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 R$ 2.2 billion (€32.9 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.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
