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Heineken buys Mexican beer business Femsa

Heineken NV announced today it is to acquire beer company Femsa in an all share transaction that values the Mexico-based company at €3.8 billion. The deal gives family-owned Heineken access to Latin America and consolidates the company's position as the world's second-largest brewer by revenue.
Non-family CEO Jean-Francois van Boxmeer said: "This is a compelling and significant development for Heineken. It transforms our future in the Americas and marks the next stage in Heineken's strong association with Femsa. Through this deal we become a much stronger, more competitive player in Latin America, one of the world's most profitable and fastest growing beer markets."
Femsa gains a 20% shareholding in the Amsterdam-based Heineken Group and the right to appoint two non-executive directors to the supervisory board of Heineken. In the statement, Heineken also said it expected the acquisition to produce synergies and savings of €150 million by 2013. The company put the total value of the deal at €5.3 billion.
The Heineken family holding company, L'Arche Green NV, owns 58% of Heineken Holding NV. Heineken was founded in 1863 when Gerard Adriaan Heineken bought the Haystack brewery in Amsterdam and today has revenues of €16.7 billion.

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