Dominican Today reports that the maker of Dominican Republic’s leading beer, Presidente, announced the closing of its US$1.2 billion merger with the Brazilian beverage giant AmBev.
In 2012, Ambev had already entered into a strategic alliance with the Dominican Republic’s biggest company, E. Leon Jimenes SA (ELJ), to form a leading beverage company in the Caribbean. At the time, ELJ (headquartered in Santiago de los Caballeros) held a virtual monopoly on local beer and cigarette markets; it brews Presidente, Bohemia, Miller and Heineken beers and manufactures Marlboro cigarettes.
The combined business operations of ELJ and AmBev include beer, malt and soft drinks in the Dominican Republic, Antigua, St. Vincent, and exports to sixteen countries throughout the Caribbean, the U.S. and Europe.
On October 21, 2014, the Dominican National Brewery (CND) and AmBev Dominicana Brewing Company of Brazilian capital agreed to the merge. AmBev had announced the acquisition of a 51% stake in the CND for US$1.24 billion Last April, when José A. León, CEO of E. León Jimenes Corp.—which owned 83.5% of the shares of the maker of President beer—called the deal a strategic alliance to form the Caribbean’s leading beverage company.
Ambev (Companhia de Bebidas das Américas – or ‘Americas’ Beverage Company’) dominates Brazil’s beverage industry, producing beers and soft drinks ranging from Brahma and Budweiser, to Guaraná Antarctica and Pepsi. It is also a founding partner, alongside Belgium’s Interbrew, of InBev – one of the world’s top two leading beer manufacturers.
Information for this post comes from http://www.dominicantoday.com/dr/local/2014/11/20/53393/Dominican-brewery-US12B-buyout-a-done-deal and http://riotimesonline.com/brazil-news/rio-business/ambev-expands-into-the-caribbean/#