Brazil’s Ambev announces acquisition of Portuguese beermaker Cintra for US$150 million

29 March 2007

Sao Paulo, Brazil, 29 March – Brazilian drinks company, Comapnhia de Bebidas das Américas (Ambev) said Wednesday it had acquired the assets of Portuguese beermaker Cintra, in Brazil, for US$250 million.

The Cintra acquisition did not include the beermaker’s brands and its distribution assets, “which may be included if the seller so wishes,” said the company in a market statement.

The acquisition involves the company’s two factories in Brazil, located in the cities of Piraí (Rio de Janeiro state) and Mogi Mirim (Sao Paulo state).

AmBev, which was set up in 1999, is currently the largest private consumer goods company in Brazil and the largest beermaker in Latin America, with a presence in 14 countries, the statement said.

In 2004, base don its worldwide partnership with InBev, it became part of the world’s largest beer production and sales platform, allowing it to enter the north American market, through the incorporation of Canada’s Labatt.

The beer company has a 1.3 percent share of the Brazilian beer market, which is worth a total of 8.2 billion liters per year.

Cintra, which has been in Brazil since 1997, has investments of US$200 million in the country. (macauhub)