July 7, 2015 / 3:52 PM / 3 years ago

AB InBev unit Ambev buys Brazilian craft brewer Colorado

View of Anheuser-Busch InBev logo outside the brewery headquarters in Leuven August 12, 2010. REUTERS/Jan Van De Vel

SAO PAULO (Reuters) - Ambev SA (ABEV3.SA), Brazil’s largest drinks company, said on Tuesday it had bought craft brewer Colorado for an undisclosed sum, continuing its new strategy of buying premium brands amid stagnant sales volumes in South America’s biggest beer market.

Ambev, the Brazilian unit of Anheuser-Busch InBev SA (ABI.BR), snatched up Brazilian craft brewer Wäls in February, folding it into its higher-end Bohemia division. In May, Ambev bought Colombia’s largest craft brewer, the Bogotá Beer Company.

Shares of Ambev retreated 0.2 percent to 19.10 reais on Tuesday. The stock is up 23 percent this year.

Colorado is based in the interior of Brazil’s Sao Paulo state and exports its beers, often flavored with coffee, honey or nuts, to France and the United States. The brewer, which was founded in 1996 by businessman Marcelo Carneiro, had revenue of about 19 million reais ($5.96 million) last year, according to analysts.

Reporting by Luciana Bruno; Writing by Brad Haynes; Editing by Peter Galloway

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