just On Call: Heineken happy with JVs, would buy out if offered - CFO
Heineken released its Q3 and YTD results this morning
Heineken has reiterated its satisfaction with its JV partnerships around the world, but admitted that it would be prepared to buy out its partners if they wanted to sell.
Reports out of India earlier this week suggested that the country's UB Group is mulling the divestment of a further 10% to 12% of United Breweries to Heineken. The Netherlands-headquartered brewer inherited a 37.5% holding in United Breweries when it acquired Scottish & Newcastle in 2008.
Heineken also has a major stake in Chile's Compañía Cervecerías Unidas, jointly accounting for 66.1% ownership with the Luksic family's Quiñenco holding company.
When asked about the JVs today (23 October), Heineken's CFO, Rene Hooft Graafland, said that the brewer is satisfied with the current ownership structures. “We are happy with these partnerships,” he said in a conference call. “All our partners know that, if they would like to get out of the business, then we would be happy buyers of the business. But, that is not an ongoing discussion we have with them, because that is not how you build good partnerships.”
When pressed, Hooft Graafland declined to be drawn on the terms of its JVs, specifically regarding first refusal should a sale be offered. “I will not elaborate on what the agreements are between the parties,” he said, “but if they want to sell out we would be the logical buyer and they would come to us.”
Hooft Graafland was chairing a conference call to discuss Heineken's Q3 and YTD results, which were released this morning.
In the second part of this month's management briefing, which shines the light on the importance of environmental sustainability in the brewing industry, Ben Cooper considers the impact of stakeholder...
Synopsis Canadean's "Heineken USA Inc.: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contains a com...
In the third part of this month's management briefing, Ben Cooper reviews the environmental sustainability of three of the world's biggest brewers: Anheuser-Busch InBev, Carlsberg and Diageo....
India’s largest spirits producer, UB Group’s United Spirits, came under the control of global leader, Diageo, in 2013. The profile analyses the most promising ways forward for United Spirits’ strong d...
The penultimate part of this month's management briefing sees Ben Cooper continue his review of the environmental efforts of the larger brewers. Here, he looks at Heineken, Molson Coors and SABMiller....
Heineken is making efforts to improve its business in the key US market and support sluggish consumption through product innovation, including Indio in June 2012 and Amstel Wheat and Tecate Michelada ...
- What do A-B InBev results mean for SABMiller deal?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Anheuser-Busch InBev's FY Performance by Region
- Much Work to do on Packaging in the US
- Diageo "smart bottle" targets consumers at home
- Tesco reinstates Dan Jago following suspension
- Tough US hits Mast-Jagermeister volumes in 2014
- Pernod Ricard sends Martell Mumm PJ head to Asia
- George Clooney launches Tequila Casamigos in UK
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report