EUROPE – The Dutch brewing company, Heineken has acquired a 51% majority stake in Cervezas La Cibeles, a Spanish microbrewery for an undisclosed amount.
With the transaction, Heineken aims to boost the brand’s distribution and export capacity.
Based in Madrid, Cervezas La Cibeles is a microbrewery producing small range of artisan beer, with an annual open-house event and live music.
Heineken said the management of La Cibeles will retain its independence and the deal will see the craft brewer expand its facilities.
La Cibeles was founded in 2011 by David Castro, has a portfolio of eight beer brands and owns a brewery in San Sebastian de los Reyes on the outskirts of Madrid.
“The union of both companies will ensure the growth of La Cibeles, enhancing its spirit and authenticity, and maintaining the craft and unique character of the brand,” read the company statement.
“This alliance will be carried out in a friendly way, maintaining the independence of management of La Cibeles, which joins a multi-local company that respects its commitment to quality over quantity, strengthening its distribution and export capacity to bring its essence to more consumers in all the world.
“The alliance is linked to a growth plan of La Cibeles, which implies an expansion of its facilities and the strengthening of its distribution and export capacity.”
This is an addition to Heineken’s facilities in Spain including in Jaen, Sevilla, Madrid and Valencia.
The company last year announced that it had invested US$7.25 million (6.4m Euros) to expand its site in Jaen, Spain, enabling the production of canned Cruzcampo and Amstel beers.
In 2016, the company invested US$18.14 million (€16 million) in a new production line at its factory in Kingston, Jamaica, used to brew the lager Red Stripe.
This year, Heineken expanded portfolio with acquisition of a minority stake in London based craft brewer Beavertown Brewery with a US$45.3 million injection to build a new site.
The company also acquired a minority stake in Belize Brewing Company, expanding operations in Central America.