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Investing.com - Berenberg has reiterated a Buy rating and EUR101.00 price target on Heineken NV (AS:HEIA) (OTC:HEINY) following the company’s acquisition of FIFCO’s operations across Central America.
On September 23, Heineken announced it would acquire FIFCO’s beer and soft drinks operations in Costa Rica, Guatemala, Nicaragua and Mexico. The transaction also includes the remaining 25% minority interest in Heineken Panama that the company does not already own.
The key asset in the acquisition is FIFCO’s Costa Rica operation, where Heineken will gain full control of a dominant beer business. According to 2024 Euromonitor data, Distribuidora La Florida, one of the entities Heineken is acquiring, controls approximately 75% of the Costa Rica beer market.
The iconic Imperial beer brand, which will now be part of Heineken’s portfolio, alone commands approximately 50% market share in Costa Rica. Berenberg analyst Javier Lastra highlighted this as a significant component of the deal.
In the soft drinks category, the acquisition positions Heineken as the number two player in Costa Rica with approximately 24% volume market share, placing it close to market leader Coca-Cola, which holds 26%.
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