Heineken completes acquisition of Mexican brewer
Dutch brewer Heineken said on Friday it had completed the acquisition of Mexican beer maker FEMSA, adding Dos Equis and Sol to its long list of labels.
The deal received approval from all relevant anti-trust authorities and shareholders of Heineken and FEMSA, Europe's biggest brewer said in a statement.
"Today represents the start of a new era for Heineken," Heineken chief executive officer Jean-Francois van Boxmeer said in a statement
"I am delighted to welcome a group of highly talented and ambitious people into the Heineken group and FEMSA as a major shareholder," he said.
Heineken said it would consolidate the new businesses into its accounts from Saturday.
"Heineken will now execute the integration strategy it has developed over the past two months in collaboration with the local management teams," it said.
Announcing its plans in January, Heineken had valued FEMSA at 5.3 billion euros (seven billion dollars).
Van Boxmeer said at the time the transaction should deliver "positive economic profit" after six years, and would reinforce Heineken's position as the world's second largest brewer by revenue.
Heineken sells more than 200 beer and cider labels including Amstel, Cruzcampo, Birra Moretti, Foster's, Strongbow and Tiger.
It employed 55,000 people around the world last year, and operated 125 breweries in more than 70 countries, selling 159 million hectolitres of beer.
© 2010 AFP