Heineken to invest $300 million in Brazil to expand premium beer portfolio
Reuters
Published May 04, 2023 06:03PM ET
SAO PAULO (Reuters) - Heineken (OTC:HEINY) NV, the world's second-largest brewer, said on Thursday it will invest 1.5 billion reais ($300.8 million) in Brazil as part of an expansion plan for its premium and single malt beer portfolios.
Brazilian beer drinkers are among the world's biggest consumers of Heineken, according to the company.
The planned investment aims to boost the brewer's production capacity for its Amstel, Devassa and namesake Heineken brands, spread across two plants in northeast Brazil, the company said in a statement.
Heineken said spending on its Igarassu plant will triple its capacity for making Amstel and Devassa, while also increasing its returnable packaging lines by 45%.
The company's Alagoinhas brewery is seen expanding its capacity to produce Heineken by 60% with the new investment.
The spending plan will also help make water use at the Igarassu brewery more efficient, including a goal to reduce water consumption there by 30% over the next three years, the company said.
($1 = 4.9864 reais)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.