US: Heineken, FEMSA extend US bunk-up
The two brewers confirmed today (26 April) that the existing three-year relationship, scheduled to expire at the end of this year, will now run until the end of 2017. Heineken will continue to be the exclusive importer, marketer and seller of the FEMSA's Dos Equis, Tecate, Tecate Light, Sol, Bohemia and Carta Blanca beer brands in the US.
Heineken will receive an increased share of the profitability while FEMSA will receive a payment for the exclusive distribution rights. When contacted by just-drinks today, a spokesperson for Heineken declined to comment on the specific financial details. "Heineken is enjoying a larger share of the profitability than under the previous agreement," was all the spokesperson was prepared to say.
"The relationship with FEMSA has been very successful for both companies," said Massimo von Wunster, Heineken's regional president of the Americas. "Our volume growth in the USA has significantly accelerated as a result of the powerful combination of Heineken's Dutch and FEMSA's Mexican beer brands. This new agreement will enable us to further increase our market share in the high-margin import segment in the USA."
Luis Duran, VP of international markets for FEMSA Cerveza, added: "This year, we are looking to leverage the top-notch sales execution and insights of Heineken USA to grow the Dos Equis brand and launch Tecate Light. In the longer term, we are confident that this is the right relationship for us to capture the exciting opportunity that this market continues to offer."
Heineken noted that the FEMSA brands has helped the Dutch-based company "to participate more broadly in the Hispanic market" in the US.
Looking forward, the spokesperson told just-drinks: "The imported beer category is the fastest growing beer segment in the US, and we have benefitted from greater scale and a broader portfolio of brands in the market.
"This extended agreement does not change our brand strategy in the US."
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