Haiti - Economy : Heineken increases its stake to 95% in Brasserie Nationale d'Haiti
HEINEKEN N.V. announced today the intention to increase its shareholding in Brasserie Nationale d'Haiti S.A. (BRANA), the country's leading brewer, from 22.5% to 95%. The shares are currently owned by Brana's management and private shareholders. Financial details are not disclosed.
The transaction is subject to customary closing conditions and is expected to be completed and consolidated in January 2012. Heineken expects the acquisition to be earnings accretive from January 2012 and value enhancing in the first year after completion.
Commenting on the transaction, John Nicolson, Regional President Americas for Heineken, declared "The Haitian beer market has shown solid year-on-year growth, but remains relatively underdeveloped. A growing population together with increased political and economic stability creates good prospects for continued growth. Brana is uniquely positioned to benefit from this environment with its leading brands, local brewery and nationwide distribution network."
Brana is the leading beverage company in Haiti, producing, marketing and distributing various beer and malt brands, most notably Prestige, Malta H and Guinness (licensed), as well as various PepsiCo licensed soft drink brands. Heineken acquired its initial 22.5% stake in the company in the 1980's.
