Heineken buys two Central American breweries - 25% stakes in Florida Bebidas, Consorcio Cervecero Centroamericano - Brief Article - Statistical Data Included

Modern Brewery Age, Sept 23, 2002

Heineken N.V. has announced it will buy stakes in two Central American brewers for approximately $229 million. For its money, Heineken gets a 25% stake in the Costa Rican brewery Florida Bebidas S.A., the main subsidiary of Costa Rican beer group Florida Ice and Farm Co. (FIFCO). The Dutch company will also get 25% of FIECO's stake in the Nicaraguan brewery Consorcio Cervecero Centroamericano S.A.

FIFCO has been brewing Heineken brands since 1986. Recently, FIFCO also began brewing Heineken for export in the Central American region.

In a statement, Heineken said it stood to gain further exposure in growing beer markets. "The acquisition is another step in Heineken's drive for an optimal balance in its activities between mature and growing beer markets," it said.

Heineken said it will finance the transaction from its available cash resources. Both the Costa Rican and Nicaraguan beer markets are expected to grow substantially in coming years.