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Heineken has commenced operation of Jamaican lager Red Stripe in the UK, after completing the acquisition of the brand from Diageo.
The Dutch brewing giant took control of Kingston, Jamaica-based Desnoes & Geddes, which previously brewed up the Red Stripe brand. After acquiring Diageo’s 57.9% stake in Desnoes & Geddes, and by extension the right to distribute the Red Stripe and Dragon brands in the US, UK and Canada, Heineken completed the deal with a mandatory offer for all outstanding shares.
As part of the same deal, Heineken gained full ownership of GAPL after acquiring Diageo’s shareholding, which was said to be “slightly lower than 50%”.
According to Heineken, the deal would offer the Dutch brewer a number of “clear benefits”, allowing it drive the investment and strategic direction of the operating companies in Jamaica and Malaysia – markets in two “strategically important” regions for Heineken.
Heineken CEO Jean-François van Boxmeer said the deal would allow it to ensure that it was “optimally structured to support our strategic agenda”.
“Having greater commercial control in the important regions of South-East Asia and the Caribbean will allow us to maximise the strong potential of our brands in these growth markets. Our close collaboration with Diageo has been very productive over the years and I would like to thank them for their valued partnership.”
© FoodBev Media Ltd 2024