Heineken creates Five Points Trading Co in US
Heineken's US unit has established a new company for its emerging global brands as it looks to bring import duties in-house.
Five Points Trading Co will handle Red Stripe, Tiger, Birra Moretti, Affligem, Murphy's Stout, Prestige, Sagres and Mort Subite in the market. Heineken described the new venture as a way of "incubating a range of popular global beers in the US".
The brands are currently imported and sold in the country by other companies, Heineken said, without giving further details. Contracts are set to expire at the end of 2016.
Five Points will be led by GM Charles Littlefield and the brands will be managed separately from Heineken USA's current portfolio. The new entity is named after the five points on Heineken's red star and the Five Points neighbourhood in Manhattan.
"This portfolio... provides new opportunities to connect with millennial beer drinkers as they become more global and more adventurous with their taste," said Littlefield. "Keeping the Five Point and Heineken USA portfolios separate will allow our current marketing and sales organisation to maintain focus on our four core brands - Heineken, Dos Equis, Tecate and Strongbow - while enabling Five Points to direct its energy and resources to developing the potential of these new-to-the-company acquisitions."
Heineken took ownership of Red Stripe last year. The company said last month that it would double production at its Red Stripe brewery in Jamaica as it continues plans to return the beer's production to the Caribbean country.
Canadean's "Heineken N.V. : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations....
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Heineken Group is a global alcoholic drinks player present in more than 70 countries around the world....
Heineken Slovensko, part of the Heineken NV group, was one of the largest producers of beer and cider in Slovakia in 2015....
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