Heineken Enters the Peruvian Beer Market with Tres Cruces Acquisition

AMSTERDAM — Heineken N.V. (HEINEKEN) today announced it is entering the Peruvian beer market through the acquisition of local beer brand Tres Cruces and the incorporation of its local operating team in Lima. HEINEKEN aims to build a diverse portfolio in Peru consisting of local beer brands, complemented with its range of leading international brands.

To support its strategy in Peru, HEINEKEN is entering into a strategic partnership with Peruvian beverage player AJE Group (AJE). AJE is a leader in numerous non-alcoholic beverages, with a strong route-to-market and distribution network across Peru. AJE will be our local sales and distribution partner in the highly relevant traditional channel in the country.

Marc Busain, President Americas at HEINEKEN said: “While we are navigating the global COVID-19 crisis, we are also building for the future. Therefore, we are pleased to announce that we continue to expand our footprint in South America entering a strategic market such as Peru. Peru has favourable demographics and is a promising beer market. Our partnership with AJE will be instrumental to grow our business in the country. We are pleased that our investment will significantly expand the beer category in Peru. Given that these are challenging times also for Peru, our thoughts remain with all those affected by COVID-19 in the country.”

Mr. Ángel Añaños, President of the Board of AJE said: “We are delighted to team up with HEINEKEN in the beer market in Peru. We believe AJE’s local knowledge and strong access to the market in combination with HEINEKEN’s leading brand portfolio and commercial capabilities will benefit customers and consumers in the country. Our partnership will bring more choices into the Peruvian beer market.”

Peru is one of the largest beer markets in South America with around 14 million hectolitres of annual beer sales of which about 40% are sold in Lima alone. It is the largest market in the region where HEINEKEN did not yet have operations. The premium beer segment is significantly underdeveloped, representing less than 4% of the total market. Peru has a population of 32 million and has solid macroeconomic fundamentals, attractive development of consumer demographics and a stable local currency.

As in other markets where HEINEKEN operates, the company will ensure in Peru that employees working in its local operations follow strict hygiene and social distancing guidelines and will receive support to do their jobs safely. HEINEKEN will also work closely with its suppliers and customers and listen to their concerns about the impact of COVID-19 on their businesses.

Financial terms are not disclosed.

About HEINEKEN

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 over 85,000 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: www.theHEINEKENcompany.com and follow us on Twitter via @HEINEKENCorp.

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