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News
Chile’s San Pedro in merger
News broke last week that two of Chile’s largest brand owners were to merge. Viña San Pedro and Viña Tarapacá amazed the industry with their announcement that San Pedro’s owner, Chilean beer and soft drinks giant, Compania Cervecerias Unidas (CCU) would take a 60% share in the new company with Tarapacá owning the remaining 40%.
San Pedro’s CEO Javier Bitar told the drinks business exclusively that “the merger with Tarapacá is like putting our foot on the accelerator. There are a number of synergies between the two businesses, not only will it make us the number 2 in Chile, but we will also become the number 1 brand owner in the domestic market.
“In business terms,” he continued, “we will be able to make a number of savings in terms of economies of scale and the move will give us more stability in tougher market conditions and enable us to be more agressive in key markets.”
Charlotte Hey 23/07/08