India’s United Breweries becomes part of the HEINEKEN group
- HEINEKEN obtains controlling interest following UBL’s annual general meeting
- UBL becomes a top HEINEKEN operating company, Kingfisher a top 5 global brand
Amsterdam, 30 July 2021 – Heineken N.V. (HEINEKEN) announces that, following United Breweries Limited’s (UBL) annual general meeting on 29 July 2021, it has obtained control of UBL in India. This follows HEINEKEN’s recent acquisition of additional ordinary shares in UBL on 23 June 2021, taking its shareholding in UBL from 46.5% to 61.5%.
Dolf van den Brink, Chairman of the Executive Board / CEO, commented: “UBL has a proud history dating back more than a century as an influential shaper of the beer industry in India. It built its position as the undisputed market leader in India with a strong network of breweries across the country and a fantastic portfolio led by its iconic Kingfisher brand family, complemented more recently by a strong HEINEKEN international brand portfolio. We are honoured to build on this legacy and look forward to working with our colleagues at UBL to continue to win in the market, delight consumers and customers and unlock future growth.”
India offers an exciting long-term growth opportunity as per capita beer consumption is low at 2 litres per annum. Its growing population of nearly 1.4 billion people includes a strong emerging middle class, enabling further premiumisation. UBL will be a top HEINEKEN operating company and Kingfisher a top 5 global brand.
HEINEKEN expects the consolidation of UBL will have a small accretive effect on EPS (beia) and a dilutive effect on operating profit margin (beia).
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HEINEKEN is the world’s most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through “Brewing a Better World”, sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs more than 80,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN’s website, and follow us on LinkedIn, Twitter and Instagram.
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