Spanish investment firm Ibersuizas has bought El Alcazar from Heineken for EUR10m (US$14.3m), an Ibersuizas official confirmed yesterday (18 October).

The purchased was executed via Ibersuizas' Bartlett Capital division.

Ibersuizas will only purchase the El Alcazar brand, which has a stronghold in the city of Jaen (Andalusia) in southern Spain, the official said. Heineken will continue to make the beer, he added.

In 1999, Spanish competition authorities ordered the Dutch beer giant to sell El Alcazar before approving the merger of its Cruz Campo and El Aguila main Spanish labels.

The official, who requested anonymity, would not reveal Ibersuizas' strategy for El Alcazar but market sources said the firm wants to expand the label to the national market.