Monday, September 1, 2014
Heineken sells Mexican sub to U.S. firm for $1.23 billion
Dutch beer manufacturer Heineken has announced the sale of its subsidiary in Mexico, Empaque, to U.S. packager Crown Holdings.
Empaque maks cans, aluminum tabs and related products for the beverage industry.
Crown paid $1.23 billion dollars in the transaction, which will close in 2015. Heineken acquired Empaque four years ago, but said it wanted to divest itself of the satellite business so it could "focus fully on the production and sale of beer in international markets."
Company officials said Empaque will continue to be a key partner of and supplier for the Cuauhtémoc Moctezuma brewery, a huge Heineken bottler in Monterrey, Mexico.
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at 3:56 PM