June 28, 2013
Companhia de Bebidas das Américas’ (AmBev) move in April last year to take a majority stake in Cevecería Nacional Dominicana (CND), the Dominican Republic’s largest brewer, marked the culmination of eight years of the company’s expansion into the Caribbean.
The Brazilian drinks maker’s first steps into the region took it to the Dominican Republic in 2004, where it bought a majority stake in the country’s Pepsi bottler Emdobom for $60 million. In 2012, it spent $1.24 billion in its acquisition of a 51.06% stake in CND – a move that was emblematic of the company’s increased confidence in the area.
The move was “an important step to consolidate our position in that region,” AmBev’s CFO Nels
With a newly acquired majority stake in the Dominican Republic’s leading beer brand, AmBev is looking for further Caribbean expansion