Heineken Signs Non-binding Deals With China Resources To Create Partnership
Heineken NV (HKHHF.PK) said that it has signed non-binding agreements with China Resources Enterprise, Limited or 'CRE' and China Resources beer (Holdings) Co. Ltd. to create a long-term strategic partnership for Mainland China, Hong Kong and Macau.
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HEINEKEN will become CRE's 40% minority partner in holding company CRH (Beer) Limited ('CBL'), which controls CR Beer, the undisputed market leader in the world's largest beer market, China.
As part of the strategic partnership, HEINEKEN China's current operations will be combined with CR Beer's operations and HEINEKEN will license the Heineken brand in China to CR Beer on a long-term basis. Together, HEINEKEN, CRE and CR Beer are perfectly positioned to win in the rapidly growing premium beer segment in China.
Under the strategic partnership agreement, HEINEKEN will be CRE's exclusive partner for international premium lager beers in China. HEINEKEN and CR Beer will investigate which other premium brands from HEINEKEN's portfolio can be licensed to CR Beer in China.
HEINEKEN and CRE will also investigate if the Dutch brewer's global presence and marketing capabilities can be leveraged to support and accelerate the international growth of CR Beer's Snow brand and its other Chinese brands to become the Chinese beers of choice.
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