As part of the agreement, Heineken will acquire APB India from Asia Pacific Breweries Ltd, and in a subsequent transaction intends to transfer this into United Breweries Limited during 2010.
Heineken said the deal includes terms for the brewing and distribution of the Heineken brand in India.
Jean-François van Boxmeer, chairman of Heineken’s executive board and CEO, said: “In the world of beer, there’s no bigger or more exciting growth opportunity than India. We have long regarded a strong Indian presence as important in order to increase our exposure to and growth from developing markets. We’re proud to announce our partnership with UBL, the strong market leader. Our partnership and the combination of the Kingfisher and Heineken brands will transform our ability to unlock the market’s considerable potential and to shape the premium segment. We’re now uniquely positioned to benefit from the highly favourable demographics and strong economic fundamentals in the Indian market.
“Alongside this, the integration of our Indonesian and New Caledonian businesses with our joint venture Asia Pacific Breweries, considerably strengthens our platform for growth and our leadership position in southeast Asia and the Pacific. Taken together, the agreements announced today represent a powerful, positive development for our future growth and development in Asia.”
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