Sale of Presidente beer to be announced soon, as Latin beverage to sponsor #Marlins #cerveza #dominicanrepublic #beisbol #baseball #alcohol #brewery
Reuters is the first to go public on reported advanced negotiations for the sale of the Cerveceria Nacional Dominicana (CND), the profitable Presidente Beer brewery. CND is owned by Grupo Leon Jimenes.
In an official statement, CND says that as a company policy it does not respond to rumors or speculation about the sale, that once it has something to communicate, it will be the first to do so.
An announcement could be forthcoming next week, according to the Reuters story. The company is estimated to be worth US$1.5 billion.
CND had announced in February that FellerRate gave their solvency and bonds a risk rating of “A+.”
In the Dominican Republic, InBev operates the affiliated Brazilian AmBev Brahma beer company, with a minority share of the Dominican market. On the other hand, Amsterdam-based Heineken already owns a 9.3 percent stake of CND.
Cerveceria Nacional Dominicana has by far the majority share of the domestic beer market in the Dominican Republic, and has been expanding beer exports to the US and Europe in recent years.
Meanwhile the popular beverage announced its sponsorship of the Miami Marlins baseball team. As reported in Listin Diario, this will be the first time that a Dominican Republic-made brand takes an initiative of this kind.
The newspaper says that the brand has also backed the Heat NBA basketball franchise, and the NFL Dolphins of Miami franchise. Apart ffrom being exported to Barbados and other neighbouring isles – Presidente beer distribution is strong in Florida, especially in Miami.
“Presidente Beer proudly announces this initiative with a first rate organization like the Marlins, in this year when they begin a new era with their majestic stadium and the arrival of new stars to the franchise. It is with true pride that Presidente Beer enters the Major Leagues with the Marlins,” said Wendy Santos, representing Cerveceria Nacional Dominicana.