MEXICO. - Grupo Modelo announced the purchase of both craft beer breweries Cervecería Mexicana and Cervecería Tijuana, this fact ends months of rumors and speculation.
Forbes reported that Grupo Modelo will make the purchase through one of its subsidiaries, after confidential negotiations, the company is now the owner of several renowned beer brands in Baja California.
Cervecería Mexicana is known for Mexicali, Mexicali Dark, Mexicali Light , Pilsner, Day of the Dead, Red Pig, Chili Beer, Río Bravo and San Miguel which are marketed mainly in the U.S., as well as Australia, Japan, France, Italy, the U.K., Spain and New Zealand.
While Cervecería Tijuana makes Tijuana Light, Tijuana Güera, Tijuana Morena, Rosarito Beach, Bufadora, Brava and Xolos which are marketed in Mexico, the Czech Republic, Japan, Switzerland, Hong Kong, Israel, Australia and Canada, to name a few.
"The purchase of assets of both breweries previously mentioned, represents an opportunity to strengthen the presence of the brands in Mexico and abroad", said the company to Forbes Mexico, who did not give an exact purchase amount.
Even though the craft beer industry represented just 0.05% of the national market back in 2013, analysts quoted by Forbes think that it could go up 5% in the next few years. The president of the Mexican Association of Beer (Asociación Cervecera de la República Mexicana [Acermex] in Spanish), Jaime Abreu, thinks there could be an annual growth of up to 200%.
According to Forbes, Mexico is the number one exporter of craft beer in the world, its manufactured products reach more than 180 countries, which explains Grupo Modelo's (and its parent company AB-InBev) interest in venturing into this market.
It had been previously reported that Modelo also wanted to buy Mexicali's craft beer Cucapá, but they denied it and to this day nothing has been announced.
Vía Forbes Mexico.
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jose.sanchez@sandiegored.com
Translated by: edgar.martinez@sandiegored.com
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