Amsterdam, 26 February 2019 - Heineken N.V. announces that its Mexican subsidiary Cervezas Cuauhtémoc Moctezuma, S.A. de C.V. (HEINEKEN Mexico) and Cadena Comercial Oxxo (a subsidiary of FEMSA) have signed an agreement to extend their commercial relationship for 5 years, up to and including March 2024. The current successful commercial relationship began in 2010 under a ten-year agreement, whereby the only beer brands sold by OXXO have been those of the HEINEKEN Mexico portfolio. Today's announcement represents an early renegotiation of the agreement.
Under the terms of the new agreement the parties have agreed to gradually begin changing the nature of the current agreement so, starting in 2019 in places such as the metropolitan areas of Guadalajara and Mexico City and finalizing by December 2022 with Nuevo León and Sonora, the brands of HEINEKEN Mexico will no longer be the only beer brands available at OXXO.
Etienne Strijp, CEO at HEINEKEN Mexico, said: "We highly value our strategic partnership with OXXO and we will continue working together to grow the beer category and offer our consumers the best beer brands. Given the dynamism of the Mexican beer market, our exciting product portfolio and the commitment and motivation of our teams, we expect to continue growing our Mexican business in the coming years."
The agreement announced today is expected to be formalized through the signing of a definite contract, which is expected to take place in March 2019. Financial terms of the agreement are not disclosed.
ENDS
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Editorial information
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. We are 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. We employ over 85,000 employees and operate 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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Source: HEINEKEN NV via Globenewswire
