Spanish dairy company Calidad Pascual has acquired an 8% stake in local beer brand Cerveza Mica through its investment arm, Pascual Innoventures.
The investment expands on a distribution agreement between both companies that was established back in 2019.
The minority stake will help Calidad Pascual boost the brewer’s R&D efforts in recent years. Both companies will then collaborate on the joint launch of new products in the alternative beverages space.
Gabriel Torres, CEO of Pascual Innoventures, said: “Pascual has a long relationship with Cerveza Mica, and we are very excited about this new way of collaborating that we have opened, reinforcing our commitment to innovation and expanding our value proposition in the Castile-Leon and national markets. We believe that the innovative spirit of Mica is a strong ally for the development of new business opportunities.”
As part of this agreement, Pascual Innoventures will also support the marketing of all Mica products, contributing to the brand’s growth. In addition, Calidad Pascual said that the joint projects “will not only be limited to the innovation of the final product but will also be open to possible improvements throughout the value chain, from the cultivation of raw materials to marketing and reaching the final consumer”.
Juan Cereijo, CEO of Cerveza Mica, commented: “We are already working on new opportunities, and we are happy and proud to have closed this new collaboration agreement”.
Financial terms of the transaction were not disclosed.
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