HOLLAND/US: Heineken signs Bud deal in Panama
The two brewers said today (30 January) that a Heineken subsidiary would brew Budweiser in the Central American nation of Panama.
Cervecerias Baru-Panama, in which Heineken owns a 75% stake, will Budweiser at its site in Panama City.
Heineken and Anheuser-Busch have signed similar deals in the past. The Dutch brewing giant brews Budweiser under licence for the Italian and Russian markets.
Cervecerias Baru-Panama general manager Etienne Strijp said: "Cervecerias Baru-Panama has good experience in brewing and building international brands in Panama. Budweiser fits perfectly in our portfolio and will allow us to create and build the international premium segment."
Alejandro Strauch, vice president, Central and South America, for Anheuser-Busch's international arm, said the deal would be "a gateway for expanding our brand to other markets in the region".
Annual consumption stands at around 58 litres per person, according to industry analysts Plato Logic.
London-listed brewing giant SABMiller dominates the beer market in Panama with a market share of 79%.
Anheuser-Busch has posted a steady rise in profits and sales for its second quarter....
A local broker has lowered its coverage of Mexican brewer Grupo Modelo....
InBev and SABMiller have had their share coverage raised....
Anheuser-Busch has lined up a super-premium natural spring water for distribution in the US....
Heineken has raised its forecast for organic net profit growth for the full-year....
Heineken has appointed a new managing director for its UK division....
Budejovicky Budvar has seen beer exports to the US leap in the first half of this year....
SABMiller has announced that its wholly owned subsidiary SABSA Holdings has successfully priced a five-year ZAR1.6bn (US$229.4m) note issue in South Africa....
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