Heineken buys beer brand in Ecuador

Heineken buys beer brand in Ecuador

M&A Equity Corporate & Sovereign Strategy Ecuador Europe

Dutch brewing company Heineken said it has entered Ecuador by buying a majority stake in the local brand Biela from mainly local investors for an undisclosed amount.

The Belgian-based brewer AB InBev relaunched Biela in 2014 and "has established its place in the Ecuadorian beer market," Heineken said in a press release.

Henineken also said it will sell its own brands in Ecuador and eventually brew Heineken beer at Biela's facility in Guayaquil.

Ecuadorians drink 6m hectoliters of beer per year, or roughly 39 liters per person, lower than other countries in South America, Heineken said.

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