Canadian holding company Société d'Investissements Cabral has purchased a 15% stake in Domus Capital, the owner of Portuguese beer brand Cerveja Quinas, reports suggest.
The holding company is part of the Global International Networks Canada Wines & Spirits, headed by Portuguese businessman Emanuel A Cabral.
The company, with an annual turnover of around CAN$20 million, markets European wines and other alcoholic beverages in Canada.
In a press statement, Domus Capital said that the new shareholder, also a distributor of the Portuguese brand in Canada, closed the agreement in early July, for €1.5 million.
Cerveja Quinas has a market value of €2.6 million.
The arrival of new investors is seen as part of the growth plan of the brand. Founders Sérgio Duarte and Augusto Pinto are its majority shareholders.
Earlier this year, Armindo Sousa, a Portuguese maintenance and industrial innovation company, and partner of Quinas in the area of equipment, acquired a 5% stake in the beer brand.
Launched in 2018, Cerveja Quinas beer is available in 17 countries: the USA, Canada, Mexico, Portugal, France, The Netherlands, Belgium, Germany, Switzerland, Spain, South Africa, São Tomé and Príncipe, Mozambique, Namibia, China, Russia, and Australia.
The company is in negotiations with potential local distributors to expand its presence to 24 countries by the end of 2019.
Cerveja Quinas expects to close an agreement for ten more countries, namely Brazil, Poland, Angola, East Timor, Luxembourg, UK, Cape Verde, Macau, and Vietnam by the end of the year,
Duarte expects to end 2019 with a turnover of around €1.5 million, which is triple the figure from 2018.
Foreign sales account for 70% of its total turnover, while the remaining 30% is generated in the domestic market.
© 2019 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.