Heineken to acquire Taiwan brewery

06/27/2022 04:08 PM
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Image source: Pixabay
Image source: Pixabay

Taipei, June 27 (CNA) Dutch brewing company Heineken N.V. said Monday that it has reached an agreement to acquire a subsidiary brewery of Taiwan's Sanyo Whisbih Group.

Under the deal, Heineken N.V. will take over the majority ownership and management rights of the Long Chuan Zuan Co. brewery in Neipu, Pingtung County, according to the Dutch company.

When the acquisition is completed, Heineken will become the first multinational brewing company to operate in Taiwan, it said.

The deal between Heineken and Sanyo Whisbih Group has already been approved by Taiwan's Investment Commission under the Ministry of Economic Affairs.

However, as the terms of the acquisition settlement have not yet been completed, the details of the financial transaction will not be disclosed at this time, Heineken said.

Heineken beer was first introduced in the Taiwan market in 1987, and the first Heineken Taiwan office was established in 2002.

Headquartered in Taipei, Heineken Taiwan now has six offices throughout the country, with an annual total revenue of NT$6 billion (US$202.52 million), the Dutch company said.

Heineken Taiwan distributes Heineken, Tiger, Strongbow and Edelweiss beer brands.

According to Heineken, Taiwan is its second-largest export market in the world, after the United States.

As of 2019, Heineken had some 165 breweries in more than 70 countries, according to its data.

(By Chang Ai and Evelyn Kao)

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