Chilean brewer CCU enters Paraguay via acquisition

Monday, 23 Dec 2013 | 4:50 PM ET

SANTIAGO, Dec 23 (Reuters) - Chile's largest beer brewer Compania Cervecerias Unidas said it was entering the Paraguayan market via the purchase of stakes in a drinks company and a distributor.

The company said on Monday that it will buy just over 50 percent of soft drinks and beer maker Bebidas del Paraguay and just under 50 percent of a related distributor from owner Grupo Cartes, founded by Paraguayan President Horacio Cartes.

It did not give financial details but said the companies it was buying had sales of $45 million in 2013.

Controlled by Dutch brewer Heineken and the wealthy Luksic family, CCU already has operations in Chile, Argentina and Uruguay.

(Reporting by Rosalba O'Brien; Editing by Richard Chang)

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