December 1, 2002
Three major Latin
want a piece of
Backus and Johnston,
the maker of Pilsen
and Cristal beer.
Early in July, when the air was thick with rumors that Bavaria, Colombia's largest beer company, was about to buy a major stake in Peru's dominant brewer, Backus&Johnston, Steven Bandel, president of Venezuela's Cisneros Group, decided it was time to make a move. Backus is one of the few independent brewers left in the rapidly consolidating South American beer market and its monopoly status in its home market makes it extremel
A 123-year-old Peruvian brewer has become the prize in
a fight to dominate the region's beer market. The battle involves some of South America's most powerful families.