SABMiller buys Argentine brewer
British brewer SABMiller on Wednesday announced its entry into the Argentine market after agreeing to buy CASA Isenbeck from German rival Warsteiner Group for an undisclosed sum.
"We are pleased to have added CASA Isenbeck to our Latin American footprint, giving us exposure to the fast-growing and attractive Argentinian beer market and complementing our existing Latin American operations," SABMiller Latin America president Barry Smith said in a group statement.
CASA Isenbeck, which is Argentina's third largest brewer, is known for beer brands Isenbeck and Warsteiner. CASA Isenbeck will continue to produce and distribute the Warsteiner brand under a long-term licence deal, SABMiller said.
SABMiller brands include Grolsch, Peroni Nastro Azzurro and Pilsner Urquell beers. It is the world's second-biggest brewer by volume after Anheuser-Busch Inbev.
© 2010 AFP