PANAMA: SABMiller's Cervecería Nacional offloads milk, juice arm to Dos Pinos
Cerveceria Nacional will focus on its brewing operations
SABMiller subsidiary Cervecería Nacional has agreed a US$86m deal to sell its milk and juice business to the Central American producer co-operative Dos Pinos.
The deal, announced late yesterday (21 January), is to allow Cervecería Nacional to focus on its beer and soft drinks business in Panama, the company said. It remains subject to approval from the country's competition authorities.
Fernando Zavala, Cervecería Nacional's president, said the business is a “legacy” assest from when SABMiller acquired Columbian group Bavaria in 2005. “The divestment will allow us to simplify our business processes and focus on beer and carbonated soft drinks in Panama, where we are the market leader in beer,” he added.
A SABMiller spokeperson in London told just-drinks today that the milk and juice arm was “very much a non-core part of the business”.
The global brewing group also reported today that its global net sales rose by 8% in its third quarter.
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