MEXICO: Grupo Modelo seeks acquisitions, tie-ups
Grupo Modelo in expansive mood - CEO
Mexico's largest brewer, Grupo Modelo, has confirmed that it is eyeing acquisitions in beer and other drinks categories in emerging markets.
A Modelo official confirmed chairman Carlos Fernandez as telling local financial daily Milenio: "If we see a good opportunity, we have the financing to make a purchase.” Fernandez said that China, Brazil and Venezuela are interesting markets due to their booming growth rates.
Modelo is also looking to expand its product portfolio through new launches or brand acquisitions, the official confirmed to just-drinks today (9 November). It is mulling strategic partnerships similar to the one struck recently with Nestle's bottled water division in Mexico.
Earlier this year, analysts speculated that Anheuser-Busch Inbev would seek to use its 50% non-controlling stake in Modelo to mount a full takeover of the brewer. However, Fernandez reiterated prior statements that the family-owned enterprise intends to remain independent.
Modelo will invest MXN5bn (US$400m) in its Mexican business in 2011, down from MXN7bn this year, reflecting a forecast fall in Mexico's GDP growth, to 3.8% in 2011 from an expected 5% this year.
Crown Imports has followed the latest push for Grupo Modelo's Corona Extra beer brand in the US with a national multimedia advertising campaign for Modelo Especial in the country....
- Can Bacardi take its rum back to the party?
- Winners & losers of AB InBev's SABMiller takeover
- ABInBev on the verge of SABMiller buy? - Comment
- What Trans-Pacific Partnership means for drinks
- AB InBev, SABMiller - Here's what'll happen next
- Anheuser-Busch InBev wins SABMiller's hand
- A-B InBev raises SABMiller offer to GBP70.5bn
- Carlsberg UK chief James Lousada quits
- Beam Suntory CMO to stand down
- Ketel One co-owner now Bols' largest shareholder
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Anheuser-Busch InBev SA/NV - Strategy and SWOT Report