Heineken Acquires Control Of Jamaica’s-based Desnoes & Geddes

THE HAGUE, Netherlands, CMC – Dutch beer giant Heineken Wednesday took control of the Jamaican company, Desnoes & Geddes(D&G), after acquiring Diageo’s 57.9 per cent stake as part of a multi-million deal.

The Dutch company said it had reached worth Euro 696 million (One Euro=US$1.29 cents) with Diageo, the world’s biggest distiller, boosting its presence in the Caribbean and Malaysia.

“As majority owner, Heineken will be able to drive the investment and strategic direction of the operating companies in Jamaica and Malaysia,” it said, adding “the Caribbean and Southeast Asia are strategically important”.

Heineken now holds 73.3 per cent of the Jamaican company, which produces Red Stripe and Dragon.

“Heineken will in due course make a mandatory offer for all shares of D&G not already owned by Heineken,” it said in a statement.

The company has also won full control of GAPL, which has a majority stake in the Malaysian brewer GAB, producers of such beers as Tiger, Anchor and Malta.

GAPL also holds the license to distribute Guinness and ABC Stout in Singapore.