© Jasper Juinen/Heineken
Heineken has signed an agreement with Asia Brewery to create a new joint venture in the Philippines.
The deal to create AB Heineken Philippines is expected to be finalised in the fourth quarter of the year – and will see the new company adopt Heineken’s global policies and approaches towards supply, local sourcing, water management, employee healthcare and community investment, the Dutch brewer said in a press release.
Heineken will help to further drive premiumisation of its brand portfolio, while the two breweries that Asia Brewery currently owns in the cities of Cabuyao and El Salvador will be upgraded so that they can facilitate production of Heineken products. In the meantime, Asia Brewery will start to distribute Heineken and Tiger brands in the Philippines, the two companies said.
Heineken Asia-Pacific president Frans Eusman said: “This joint venture with Asia Brewery in the Philippines represents a good business opportunity for Heineken. It increases our exposure to another market in the region with strong growth potential.”
And Lucio C Tan, chairman and chief executive officer of Asia Brewery owner LTG, said: “Our local knowledge and distribution network combined with the brewing and marketing expertise of Heineken will be able to deliver quality beer brands and an exceptional experience for our consumers.”
© FoodBev Media Ltd 2024