- Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) and CFAO today announce the formation of a joint venture in Ivory Coast under the name of "BRASSIVOIRE" to produce and market beer in the country. This new entity is owned 51% by HEINEKEN and 49% by CFAO.
- Heineken Holding
HEINEKEN and CFAO are also laying the foundation stone for their new beer production site today in the presence of His Excellency Prime Minister, Minister of Economy, Finances and Budget Daniel Kablan Duncan and Mr Jean-Claude Kassi Brou, Minister of Industry and Mines, along with other members of the Ivorian Government.
This new brewery, incorporating the very latest technologies, will be the first occupant of the new PK24 industrial zone to the north of Abidjan. The two partners will invest 100 billion CFA francs, or around €150 million. The brewery will have a capacity of 1.6 million hectolitres per year. The site will brew Heineken® beer, as well as other brands, for the domestic market. The first bottle of beer is expected to come off the production line at the beginning of 2017.
With this significant investment, the arrival of BRASSIVOIRE is expected to create around 700 direct jobs and support more than 40,000 indirect jobs, thereby contributing to the economic development of Ivory Coast.
BRASSIVOIRE is also exploring the possibility of developing a local sourcing project for the agricultural raw materials it needs to produce its beers. The objective of this project will be to improve yields as well as the capabilities and living standards of local farmers. With the ambition of sourcing 60% of agricultural raw materials locally in Africa by 2020, HEINEKEN seeks to be a partner for growth on the African continent.
Within the BRASSIVOIRE joint venture, HEINEKEN and CFAO are combining their strengths once again after 20 years of successful collaboration in the BRASCO company in Congo-Brazzaville.
Roland Pirmez, HEINEKEN International’s President for the Africa, Middle East and Eastern Europe Region, said: “We are delighted to be entering this very promising and dynamic new market of Ivory Coast with our partner CFAO. The project is advancing rapidly thanks to proactive collaboration with the Ivorian authorities. HEINEKEN aims to be a partner for growth in Africa. The activity generated by this new brewery will contribute to the economic and social development that is already under way in Ivory Coast.”
“BRASSIVOIRE is the result of combining a strong, global brand with the historical expertise in CFAO’s distribution circuits and networks in Africa. By supporting the major brands in their development, CFAO helps open up access to new markets characterised by the emergence of a middle class that aspires to a more modern product offering,” explained Marc Bandelier, CEO of CFAO FMCG Industries & Distribution.