Heineken has entered into an agreement with Sanyo Whisbih Group to take over majority ownership of the Long Chuan Zuan Co brewery in Taiwan.
With this investment in local production, Heineken says it will become the first international brewer to have a brewery in the country.
In 1987, the company introduced the first Heineken beer to Taiwan, before establishing an office there in 2002. Currently the brewer has six offices in the country, where it generates TWD 6 billion ($201.9 million approx.) in revenue each year.
The transaction – which is subject to closing conditions – has been approved by the Investment Commission of the Ministry of Economic Affairs in Taiwan.
The financial terms of the agreement have not been disclosed.
By Antonia Garrett Peel
Source: foodbev.com
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