Heineken has announced that it has acquired the Peruvian beer brand Tres Cruces for an undisclosed sum.
The transaction also includes the incorporation of Tres Cruces' local operating team in Lima, the brewer added.
The beer giant has also entered into a strategic partnership with Peru’s AJE Group for sales and distribution purposes.
'Bring More Choices'
Commenting on the partnership, president of the board of Aje, Ángel Añaños, said, “We believe AJE’s local knowledge and strong access to the market in combination with Heineken’s leading brand portfolio and commercial capabilities will benefit customers and consumers in the country. Our partnership will bring more choices to the Peruvian beer market.”
The acquisition marks the entry of Heineken in Peru - one of the largest beer markets in South America, with annual sales of around 14 million hectolitres.
'A Promising Beer Market'
Marc Busain, president of Heineken’s American Unit, added, “Peru has favourable demographics and is a promising beer market.
"Our partnership with AJE will be instrumental in growing our business in the country. We are pleased that our investment will significantly expand the beer category in Peru.”
The premium beer segment in the country is significantly underdeveloped, representing less than 4% of the total market, Heineken added.