Heineken NV (HEIN.AS), the world’s third-largest brewer by volume, is considering making an offer for Brazilian brewer Primo Schincariol Industria de Cervejas e Refrigerantes SA, Bloomberg reported, citing two people familiar with the matter.
The agency said Heineken, whose chief brands are Heineken itself and Amstel, is going through the books of closely held Schincariol, Brazil’s second-largest brewer behind Anheuser-Busch InBev NV (ABI.BR).
According to Sunday Times, the Brazilian brewer is for sale for about $2 billion, Bloomberg said.
Heineken NV said on Thursday it closed on a new 2 billion euro revolving credit facility which it would use for general corporate purposes including acquisitions. [ID:nHUGCHAOKa]
Heineken brews beer through a partnership with Cervejarias Kaiser SA in Brazil, the world’s third-largest beer market by volume, according to data from Mintel International, Bloomberg reported.
The Dutch company is among a slew of brewers seeking to expand in emerging economies as weak consumer confidence and increasing competition stymie growth in Europe and the United States, the Bloomberg report said.
Schincariol declined to comment to Bloomberg. Heineken NV was not immediately available for comment.