Malterias turned in reduced losses for the nine months to September of COP20.35 billion ($7.3m), down by 53.8% from the previous year, while Aguila is one of the best-selling beer brands in Colombia.
COLOMBIA: Bavaria to absorb local affiliates
The Colombian beer group, Bavaria, has announced that it plans to absorb its local affiliates, Aguila and Malterias, in a bid to cut costs. Bavaria, which is looking to reduce costs as it eyes expansion in Latin America, will hold a shareholders' meeting at the end of November when the matter will be put to the vote. Bavaria is also planning trim back operations, the company has said.