Heineken sells Empaque to Crown
Heineken’s Mexican packaging business has been sold to Crown Holdings in a $1.23bn deal.
The sale of Empaque will generate a one-off gain of $300m according to the brewer.
Empaque made $660m in revenues in 2013 and will continue to supply Cuauhtémoc Moctezuma, Heineken’s subsidiary company in Mexico.
In a statement, Heineken said that the deal would allow it “to focus its resources fully on brewing, marketing and selling its world-class portfolio of beer brands”.
Heineken purchased Empaque in 2010. The company produces metal beverage cans, crown corks, aluminium closures and glass bottles.
If approved by regulators the deal will complete by the end of this year.
