AMSTERDAM, Netherlands - Heineken N.V. announced on Wednesday its intention buy more shares in Brasserie Nationale d'Haiti S.A. ('Brana'), the makers of Haitian domestic beer, Prestige, the 2000 World Beer Cup Winner.
The financial details were not disclosed by the two sides, Brana has private share holders, but Heineken said in a press release their holding would go from 22.5% to 95%.
After some customary closing conditions the acquisition is expected to be completed and consolidated in January 2012 and Heineken expects to be increase its earnings immediately, simultaneously increasing the value of the company after the first year.
The Regional President of Heineken for the Americas, John Nicolson, said "the Haitian beer market has shown solid year-on-year growth, but remains relatively underdeveloped. A growing population together with increased political and economic stability creates good prospects for continued growth. Brana is uniquely positioned to benefit from this environment with its leading brands, local brewery and nationwide distribution network."
"By investing in the country, Heineken will also create further opportunities for the people of Haiti as the nation continues to rebuild after the devastating earthquake in 2010," Nicolson concluded.
Brana is the leading beverage company in Haiti, producing, marketing and distributing various beer and malt brands, most notably Prestige, Malta H and Guinness (licensed), as well as various PepsiCo licensed soft drink brands. Heineken acquired its initial 22.5% stake in the company in the 1980's.
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