Date Announced: 09/01/2014
client: Heineken N.V.
Status: Closed – 02/2015
Value: $1.2 billion Read the case study
On February 18, 2015, Heineken N.V. (“Heineken”) completed the sale of its Mexican packaging business EMPAQUE – a leading Mexican manufacturer of aluminum cans and ends, bottle caps and glass bottles – to Crown Holdings Inc. (“Crown”). Moelis & Company acted as exclusive financial advisor to Heineken in the multifaceted, cross-border transaction.
The successful execution of this complex and competitive sale involved a dual-track that allowed Heineken to maintain the option of a “sale of parts” or a “sale of whole” process. In addition, Moelis & Company helped negotiate a strategic, long-term supply contract between the client and the buyer that fulfilled the needs of multiple stakeholders within the Heineken organization. Divesting the EMPAQUE packaging operations ultimately allowed Heineken to focus its resources fully on brewing, marketing and selling its world class portfolio of beer brands in Mexico, and provided additional financial flexibility to invest in its core operations.
Moelis & Company helped Heineken achieve a premium valuation multiple relative to comparable metal and glass packaging transactions globally. Following the divestment, EMPAQUE remains a key strategic supplier to Cuauhtémoc Moctezuma, Heineken’s wholly owned subsidiary in Mexico, through long-term supply contracts.