By the Caribbean Journal staff
Heineken announced that it is increasing its stake in Haitian brewing company Brana from 22.5 percent to 95 percent.
The shares are currently owned by Brana’s management and private shareholders; financial details were not disclosed.
The deal is expected to be completed in January.
“The Haitian beer market has shown solid year-on-year growth, but remains relatively underdeveloped,” said John Nicolson, regional president-Americas for Heineken. “A growing population, together with increased political and economic stability creates good prospects for continued growth. Brana is uniquely positioned to benefit from this environment with its leading brands, local brewery and nationwide distribution network.”
Brana is the leading beverage company in Haiti, producing Prestige, Malta H and Guinness (licensed), as well as various PepsiCo brands.
Heineken first bought its 22.5 percent stake in the 1980s.