January 10, 2019 / 1:26 PM / 7 months ago

UPDATE 1-Estrella Galicia parent firm to build Brazil beer plant

(Updates with company’s confirmation of executive’s remarks)

SAO PAULO, Jan 10 (Reuters) - Privately owned Corporación Hijos de Rivera, owner of Spain’s Estrella Galicia beer brand, plans to build a factory in Brazil as part of a drive to accelerate its international expansion and boost sales outside of its home country.

The company will invest 100 million reais ($27 million) in the venture and the plant should go on-stream by 2021, a spokesperson told Reuters in a statement on Thursday confirming remarks by Juan Paz, Brazil country director, who was interviewed by Valor Econômico.

The facility will be based in Minas Gerais state, in southeast Brazil, at a yet-to-be defined location, Paz told Valor.

The site will employ 100 people and produce 20 million liters of beverages annually, the report said. The company’s spokesperson said “there is nothing definitive” in relation to the number of jobs that the factory would create.

Family-owned Hijos de Rivera expects to raise Estrella Galicia’s sales outside of Spain to 10 percent from 6 percent, the newspaper reported.

Brazil, where Estrella Galicia already sponsors Corinthians, one of the country’s most popular soccer teams, is the brewer’s largest market outside of Spain, the executive said, according to Valor.

$1 = 3.789 reais Reporting by Ana Mano; editing by Jason Neely and Bill Trott

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below