just On Call: Heineken happy with JVs, would buy out if offered - CFO
Heineken released its Q3 and YTD results this morning
Heineken has reiterated its satisfaction with its JV partnerships around the world, but admitted that it would be prepared to buy out its partners if they wanted to sell.
Reports out of India earlier this week suggested that the country's UB Group is mulling the divestment of a further 10% to 12% of United Breweries to Heineken. The Netherlands-headquartered brewer inherited a 37.5% holding in United Breweries when it acquired Scottish & Newcastle in 2008.
Heineken also has a major stake in Chile's Compañía Cervecerías Unidas, jointly accounting for 66.1% ownership with the Luksic family's Quiñenco holding company.
When asked about the JVs today (23 October), Heineken's CFO, Rene Hooft Graafland, said that the brewer is satisfied with the current ownership structures. “We are happy with these partnerships,” he said in a conference call. “All our partners know that, if they would like to get out of the business, then we would be happy buyers of the business. But, that is not an ongoing discussion we have with them, because that is not how you build good partnerships.”
When pressed, Hooft Graafland declined to be drawn on the terms of its JVs, specifically regarding first refusal should a sale be offered. “I will not elaborate on what the agreements are between the parties,” he said, “but if they want to sell out we would be the logical buyer and they would come to us.”
Hooft Graafland was chairing a conference call to discuss Heineken's Q3 and YTD results, which were released this morning.
In the second part of this month's management briefing, which shines the light on the importance of environmental sustainability in the brewing industry, Ben Cooper considers the impact of stakeholder...
In the third part of this month's management briefing, Ben Cooper reviews the environmental sustainability of three of the world's biggest brewers: Anheuser-Busch InBev, Carlsberg and Diageo....
The penultimate part of this month's management briefing sees Ben Cooper continue his review of the environmental efforts of the larger brewers. Here, he looks at Heineken, Molson Coors and SABMiller....
Roland Pirmez was president of Asia Pacific Breweries before Heineken took full control of the joint venture in 2012. He now combines that role with heading up Heineken's Asia Pacific division. just-d...
- Diageo NA head on Trump, Millennials, Bourbon
- Trump, local spirits and the IR role - The Analyst
- Interview - Bernstein analyst Trevor Stirling
- Interview - Loch Lomond GTR head Andre de Almeida
- Has Millennial-mania drowned out elder consumers?
- Beam Suntory opens global headquarters in Chicago
- Pernod Ricard offloads Domecq brandies, wines
- Molson Coors names UK & Ireland managing director
- TWE renames Blossom Hill fruit wine range
- AB InBev launches Budweiser Uber tie-up in UK