Ambev S.A. produces, distributes and sells beer, CSDs, other alcoholic beverages and non-alcoholic and non-carbonated products directly in 15 countries across the Americas.
The company is the largest brewer in Latin America and one of the largest beer producers in the world. The company conducts its operations through four business segments, as follows:
Brazil: Beer sales division and NAB sales division.
Central America and the Caribbean (‘CAC’): Dominican Republic, Saint Vincent, Dominica, A...
Ambev S.A. produces, distributes and sells beer, CSDs, other alcoholic beverages and non-alcoholic and non-carbonated products directly in 15 countries across the Americas.
The company is the largest brewer in Latin America and one of the largest beer producers in the world. The company conducts its operations through four business segments, as follows:
Brazil: Beer sales division and NAB sales division.
Central America and the Caribbean (‘CAC’): Dominican Republic, Saint Vincent, Dominica, Antigua, Cuba, Guatemala, Barbados, and Panama.
Latin America South (‘LAS’): Argentina, Bolivia, Paraguay, Uruguay, and Chile.
Canada: Labatt’s operations in Canada.
Business Strategy
The main components of the company’s business strategy include its strategic pillars, which include lead and grow the category, digitize and monetize its ecosystem, and optimize its business; quality of its products; and customer convenience - Zé Delivery, TaDa and BEES.
Markets
The following sets out the main brands the company sells in the markets as of December 31, 2024:
Brazil
Beer and Beyond Beer: Antarctica, Antarctica SubZero, Beats family, Beck’s, Bohemia, Brahma 0.0%, Brahma, Brahma Duplo Malte, Budweiser, Budweiser Zero, Colorado, Corona, Corona Cero, Goose Island, Hoegaarden, Leffe, Magnifica, Michelob ULTRA, Mike’s Ice Lemonade, Original, Patagonia, Polar, Serramalte, Skol, Skol Puro Malte, Spaten, Stella Artois, Stella Artois Pure Gold, Brutal Fruit, Vinho do Zé and Wälls.
Non-Beer: AMA, Baré, Fusion, Gatorade, Guaraná Antarctica, H2OH!, Lipton, Pepsi, Pepsi Black, Red Bull, Soda, Sukita, Tônica Antarctica and Antárctica Soda Limonada.
Central America and the Caribbean
Antigua
Beer: Wadadli.
Barbados
Beer: Banks, Deputy, Stella Artois, and Corona.
Non-Beer: Plus, Tiger Malt, Pinehill, and Sungold.
Cuba
Beer: Bucanero, Cristal, Mayabe, and Cacique.
Non-Beer: Malta Perla Negra, and Malta Bucanero.
Dominica
Beer: Kubuli.
Dominican Republic
Beer: Barcelo, Bohemia, Brahma, Budweiser, Corona, Hoegaarden, Leffe, Modelo (Especial and Negra), Presidente family, Stella Artois, and The One.
Non-Beer: 7UP, 911, Malta Morena, Montpellier water, Pepsi, Red Bull, and Red Rock.
Guatemala
Beer: Beck’s, Brahma, Bud Light, Budweiser, Busch, Corona, Goose Island, Hoegaarden, Leffe, Michelob ULTRA, Modelo (Especial and Negra), and Stella Artois.
Panama
Beer: Atlas Golden Xtra, Balboa, Beck’s, Budweiser, Corona, Hoegaarden, Leffe, Michelob ULTRA, Modelo Especial, Modelo Negra, and Stella Artois.
Non-Beer: 7UP, Mirinda, Orange Crush, Pepsi, Pony Malta, and Red Bull.
Saint Vicent
Beer: Hairoun, Corona, and Presidente.
Non-Beer: Smallie, Vita Malt, and Hairoun Island Flavors.
Latin America South
Argentina
Beer and Beyond Beer: Andes, Andes Origen, Brahma, Budweiser, Capriccio, Corona, Dante Robino Reserva, Dante Robino Varietales, Goose Island, Isidra, Michelob ULTRA, Novecento, Novecento Raices, Patagonia Quilmes, Stella Artois, and Temple.
Non-Beer: 7UP, Awafrut, Gatorade, H2OH!, Ortinal Mirinda, Paso de Los Toros, Pepsi, Red Bull, and Rockstar.
Bolivia
Beer: Paceña, Huari, Golden by Skol, Budweiser, Corona, Stella Artois, Ducal, Baltica, Taquiña, and Chicha Taquiña.
Non-Beer: Pepsi, Pepsi Black, 7UP, Guaraná Antártica, Gatorade, Maltin, H20H!, and Somos (water).
Chile
Beer: Baltica, Beck’s, Becker, Brahma, Budweiser, Corona, Coronita, Cusqueña, Goose Island, Hoegaarden, Kilometro 24.7, Leffe, Malta del Sur, Michelob ULTRA, Modelo Especial, Negra Modelo, Pilsen Del Sur, Quilmes, Stella Artois, Corona 0.0, Budweiser 0.0, and Stella 0.0.
Non-Beer: Corona Tropical
Paraguay
Beer: Antarctica, Baviera, Brahma, Brahma Subzero, Brahma Pomelo, Brahma Frutos Rojos, Budweiser, Bud66, Colorado, Corona, Michelob ULTRA, Norte, Ouro Fino, Patagonia, Pilsen, Pilsen Extra, Skol, Stella Artois, and Stella 0.0.
Non-Beer: Novecento, Caldén, and Mike’s.
Uruguay
Beer and Beyond Beer: Andes, Beck’s, Brahma, Budweiser, Corona, Dante Robino, Franziskaner, Goose Island, Hoegaarden, Leffe, Löwenbräu, Michelob ULTRA, Negra Modelo, Norteña, Novecento, Oceánica, Patagonia, Patricia, Pilsen, Quilmes, Skol, Stella Artois, and Zillertal.
Non-Beer: 7UP, Gatorade, Guaraná, H2OH!, Mirinda, Paso de los Toros, Pepsi, and Teem.
Canada
Beer and Beyond Beer: Alexander Keith’s, Archibald, American Vintage, Banded Peak, Beach Day Every Day, Beatbox, Beck’s, Boddington’s, Brava, Brickworks, Bud Light, Budweiser, Busch, Corona, Cutwater, Goose Island, Hoegaarden, Kokanee, Kootenay, Labatt 50, Labatt Blue, Lakeport, Leffe, Löwenbräu, Lucky, Michelob ULTRA, Mike’s, Mill Street, Modelo, NÜTRL, Okanagan, Oland, Pacifico, Palm Bay, Rockstar, Rolling Rock, Spaten, SVNS Hard 7-UP, Stanley Park, Stella Artois, Tempo, and Wildcat.
Brazil Beer
The Brazilian Beer Market
In 2024, the company was the market leader of the Brazilian market in terms of beer sales volumes, mainly through its three major families of brands: Skol, Brahma, and Antarctica.
Distribution represents an important feature in this market, as the retail channel is fragmented into approximately one million points of sale. As of December 31, 2024, the company’s distribution was structured under two separate branches, comprising its network of exclusive third-party distributors, involving 207 operations, and its proprietary direct distribution system, involving 89 distribution centers located across most Brazilian regions. The company has been focusing on direct distribution in large urban regions, while strengthening its third-party distribution system.
Competition: The company’s closest competitor in Brazil is the Heineken Company.
Beyond Beer
Some of the company’s products stretch beyond typical beer consumption occasions, such as the Beats family of beverages and Mike’s, which are designed for new occasions and consumer groups in which beer is not present. The company’s NÜTRL, Cutwater, Palm Bay, and Mike’s portfolio in Canada, and Dante Robino wines in Argentina, as well as Beats in Brazil, add to the company’s wide portfolio of beyond beer, a market that it has been assessing in different regions and countries.
Brazil NAB
The Brazilian NAB Markets
The CSD segment is the most significant to the company’s business, representing approximately 54% of the NAB unit volume in 2024 and 44% of the addressable market.
In the cola segment, Pepsi Cola is the second bestselling brand and is sold under its exclusive production and bottling agreements with PepsiCo, while in the ‘non-cola’ flavor segment, the company leads the market with Guaraná Antarctica. The non-sugar CSD market is growing within CSDs, and its main brands in this segment are: H2OH!, Pepsi Black (both sold under license from PepsiCo), and Guaraná Antarctica Zero. Between 2022 and 2023, the company launched new formulas for Pepsi Black and Guaraná Antarctica Zero to maximize flavor, which improved its presence in the segment. The company’s NAB portfolio also includes brands, such as Gatorade in the isotonic market, Lipton Iced Tea in the ready-to-drink tea market, which are also sold under license from PepsiCo, and in the energy drinks segment, it sells Fusion, a proprietary brand, and Red Bull, which is sold under an exclusive distribution agreement.
Competition: The company’s main competitor in the NAB market is The Coca-Cola Company.
CAC (Central America and the Caribbean)
Central America
In the countries the company operates in Central America, the company sells its beer brands through the CBC distribution network, jointly with CBC’s CSD portfolio.
In Panama, the company estimates that it leads the beer market. The main packaging presentations are 355-milliliter cans, 285-milliliter bottles, and 355-milliliter bottles, and its main beer brands in Panama are Balboa ICE, Balboa, Atlas Golden Light, Atlas, and Corona. According to the company’s estimates, the total annual sales volume of the Panamanian beer market was 3.7 million hectoliters in 2024. The company’s Panamanian business also produces and commercializes soft drinks under franchise, with Pepsi, Canada Dry, and Squirt being the main brands distributed.
Competition: The company’s main competitor in Guatemala is Cerveceria Centro Americana, the market leader, which is a private company owned by local investors. The main competitor in the Panamanian beer market is Baru.
The Caribbean Beer Market
In Cuba, the company’s main packaging presentation is the 355-milliliter cans. It sells the Bucanero, Cristal, Mayabe, and Cacique local beer brands in Cuba. The total annual sales volume of the Cuban beer market was approximately 1.2 million hectoliters in 2024.
Competition: The company’s main competitor in Cuba is imported beer (over 100 worldwide brands), and in 2023, a new brewery began operations producing locally the brand Parranda in PET format.
In Barbados, the annual sales volume of the beer market was 0.09 million hectoliters in 2024, according to the company’s estimates. It continues to be the market leader in terms of sales volume according to its estimates, with brands, such as Banks and Deputy, which are produced locally by Banks (Barbados) Breweries Ltd. The main packaging presentation in Barbados is the 250-milliliter and 275-milliliter returnable glass bottles.
Competition: The company’s main competitors in Barbados include Carib Brewery (Trinidad & Tobago), which produces Carib and Stag beers, and Red Stripe (Jamaica), a well-known lager with strong brand recognition. The company also faces competition from global brands like Heineken and Guinness, which have established strong distribution networks across the region.
The Caribbean CSD Market
According to the company’s estimates, the annual sales volume of the Dominican CSD market was 5.7 million hectoliters in 2024. The main packaging presentation in the Dominican CSD market is the half-liter bottle in PET format, which is predominantly sold in small retail stores. Industrias San Miguel, which adopts a low-price strategy, has the leadership of the Dominican CSD Market, followed by The Coca-Cola Company, represented by Bepensa.
The company’s main CSD brands in the Dominican Republic are Red Rock, Pepsi-Cola, and Seven Up, all of which are marketed under an exclusive bottling agreement with PepsiCo. The company’s distribution system in the Dominican Republic consists of direct distribution operations and third-party distributors.
Operations through Third Party Distributors
The company also sells Brahva, Budweiser, Bud Light, Michelob Ultra, Stella Artois, Corona, Modelo Especial, Presidente, Beck’s, Leffe, and Hoegaarden through third-party distributors in Costa Rica, Nicaragua, Puerto Rico, Venezuela, Trinidad & Tobago, Aruba, Bahamas, Bermuda, Cayman, Curacao, French Guyana, Grenada, Guadalupe, Guyana, Jamaica, Martinique, Saint Marteen, St. Kitts, St. Lucia, Suriname, Tortola, Turks and Caicos, and the U.S. Virgin Islands.
Latin America South
Argentina
Argentina is one of the company’s most important regions, second only to Brazil in terms of volume.
As of December 31, 2024, the company served more than 300 thousand points of sale throughout Argentina both directly and through its exclusive third-party distributors.
The Argentine Beer Market
According to the company’s estimates, the annual sales volume of the Argentine beer market was 15.9 million hectoliters in 2024. With a population of approximately 47 million, Argentina is Latin America South’s largest and most important beer market.
In Argentina, 33% of the company’s beer volume is distributed directly by it, and 67% is distributed through exclusive third-party distributors in 2024. The company’s main package presentation in Argentina is the 1-liter returnable glass bottle, which accounted for 56% of its sales in 2024.
According to the company’s estimate, on-premises consumption represented 6% of beer volumes in Argentina in 2024, and off-premise, including supermarket sales, represented 94% of beer volumes. The main channels of volume consumption in Argentina are through kiosks and small grocery stores.
The company’s most important beer brands in Argentina are Brahma, Quilmes, and Budweiser.
Competition: The company’s main competitor in Argentina is Compañía Cervecerías Unidas S.A.
The Argentine CSD Market
In Argentina, 45% of the company’s CSD volume was distributed directly by it, and 55% is distributed through exclusive third-party distributors in 2024. Non-returnable bottles represented 31% of its CSD sales in Argentina in 2024.
The company is the exclusive Pepsi bottler in Argentina, and its most important CSD brands in that country are Pepsi-Cola and Seven-Up.
Bolivia
The Bolivian Beer Market
The Bolivian market is strongly influenced by macroeconomic trends and governmental regulatory and fiscal policies.
In Bolivia, in 2024, 52.5% of the company’s beer volumes were directly distributed by it, 6.9% is distributed through exclusive third-party distributors, and the remaining 40.6% is distributed through third-party distributors who are not exclusive. The company’s main package presentation in Bolivia is the 620-milliliter returnable glass bottle, which accounted for 18.0% of its sales in 2024.
The company’s most important beer brands in Bolivia are Paceña, Huari, and Golden by Skol. According to estimates, it is the leading beer producer in Bolivia.
The Bolivian CSD Market
In March 2009, the company acquired 100% of Bebidas y Aguas Gaseosas Occidente S.R.L. from SAB (through Quinsa), becoming the exclusive bottler of Pepsi in Bolivia.
According to the company’s estimates, in 2024, the annual sales volume of the Bolivian CSD market was 1.3 million hectoliters. Of the company’s total CSD volumes in Bolivia in 2024, 86% was directly distributed by it, and 14% was distributed through third-party distributors, while all its CSD sales in that country in 2024 were through non-returnable bottles.
Chile
The company’s most important beer brands in Chile are Corona, Budweiser, Becker, Stella Artois, and Cusqueña.
As of December 31, 2024, the company was the second beer producer in Chile, according to its estimates, and its main competitor and the leader in the country is Compañía Cervecerías Unidas S.A. In Chile, 100% of its beer volumes were distributed through an exclusive third-party distributor.
In 2015, the company became the exclusive distributor of the Corona brand in Chile, and since January 2016, it also started to import and distribute Budweiser in Chile, followed by Cusqueña in 2018.
Paraguay
According to the company’s estimates, the annual sales volume of the Paraguayan beer market was 5.1 million hectoliters in 2024, excluding smuggling.
The market for beer in Paraguay has traditionally distinguished itself from those in the southern cone countries in certain respects, because beer has not faced significant competition from wine as an alternative alcoholic beverage; the domestic beer market has faced significant competition from imported brands, which accounted for a far higher market share in Paraguay than in neighboring countries; and the seasonality of the company’s products is lower due to warmer conditions throughout the year.
In Paraguay, 74.8% of the company’s beer volumes were directly distributed by it, and 25.2% was distributed through exclusive third-party distributors in 2024. The company’s main package presentation in Paraguay is the 940-milliliter returnable glass bottle, which accounted for 42.5% of its sales in 2024.
The company’s most important beer brands in Paraguay are Brahma, Ouro Fino, Skol, Bud 66, Pilsen, and Corona.
Uruguay
The Uruguayan Beer Market
According to the company’s estimates, the annual sales volume of the Uruguayan beer market was 1 million hectoliters in 2024. The company’s Latin America South business unit manages both the beer and CSD businesses in Uruguay out of a facility based in that country.
In Uruguay, on June 1, 2023, the company implemented a ‘Route To Market Project,’ resulting in 100% of its beer volume distributed through exclusive third-party distributors. Previously, from January to May 2023, 21% of its beer volumes were directly distributed by it, and 79% was distributed through exclusive third-party distributors. The company’s main package presentation in Uruguay is the 1-liter returnable glass bottle, which accounted for 33% of its sales in 2024.
The company’s most important beer brands in Uruguay are Patricia and Pilsen.
The Uruguayan CSD Market
According to the company’s estimates, in 2024, the annual sales volume of the Uruguayan CSD market was 3.9 million hectoliters. In Uruguay, 100% of its CSD volume was distributed through exclusive third-party distributors in 2024. Non-returnable bottles accounted for 94% of its sales in that country in 2024.
Competition: The company’s most important brand in Uruguay is Pepsi-Cola, with The Coca-Cola Company being its main competitor.
Canada
The Canadian Beer Market
The company’s Canada business segment is represented by the Labatt operations, which sell domestic and ABI beer brands, and a portfolio of ready-to-drink and cider brands.
According to the company’s estimates, Labatt is the market leader in the Canadian beer market. The main packaging presentations in that country are the 355-milliliter and the 473-milliliter aluminum cans, which are predominantly sold in privately owned and government-owned retail stores, in addition to privately owned on-trade establishments.
The company’s main brands in Canada are Budweiser, Bud Light, Busch, Corona, and Michelob Ultra (brewed and sold under licenses from subsidiaries of Anheuser-Busch InBev SA/NV (ABI)), along with Labatt Blue, Stella Artois, Kokanee, Lucky Lager, and Alexander Keith’s. The company’s distribution system in Canada is structured in different ways across the country.
Competition: The company’s main competitor in Canada is MolsonCoors, but it also competes with smaller brewers, such as Sleeman Breweries Ltd., or Sleeman, and Moosehead Breweries Ltd.
The RTD industry in Canada grew 4% in 2024, after low-single digit declines in 2022 and 2023. Labatt’s RTD portfolio in Canada includes the NÜTRL, Mike’s, Okanagan, Palm Bay, and Cutwater brands.
Distribution in Ontario
In Ontario, the province with the largest beer consumption in Canada, the company owns, together with other brewers, a distribution, retail, and recycling company incorporated in 1927 named Brewers Retail Inc., operating as The Beer Store, or TBS. In 2024, TBS finalized the Early Implementation Agreement, or EIA, with the government of the Province of Ontario, Labatt, MolsonCoors, and Sleeman. The EIA specifies TBS’s role as the primary distributor, designated recycler, and a retailer of beer following the recent expansion of the retail marketplace for beverage alcohol sales in Ontario, and termination of the Master Framework Agreement, or MFA, on December 31, 2025.
Historically, under the MFA, the available channels through which beverage alcohol could be purchased, subject to certain restrictions per channel, were limited to: TBS for the distribution of beer and malt-based RTDs, operating as the primary retailer for pack sizes larger than six bottles or cans of beer, the Liquor Control Board of Ontario, or LCBO, a chain of liquor stores owned by the government of the Province of Ontario, and up to 450 grocery stores. Following implementation of the EIA in 2024, the channels through which eligible beer of all pack sizes, wine, and RTDs can be sold have expanded to include: TBS, the LCBO, all eligible grocery stores, and eligible convenience stores. The LCBO continues to maintain the exclusive ability to sell spirits.
Distribution in Quebec
Quebec is the province in Canada with the second largest beer consumption. In this province, there are no exclusive rights for the sales of beer, and both the on-premise and off-premise sales channels mostly consist of privately owned stores. The SAQ, a government-operated liquor store, sells a select few beer brands that are not available in the private retail system.
Distribution in the Western Provinces and Territories
MolsonCoors and Labatt are each a shareholder in Brewers Distributor Limited, which operates a distribution network primarily for beer in the four western provinces of British Columbia, Alberta, Manitoba, and Saskatchewan, as well as three territories (Yukon, the Northwest Territories, and Nunavut). In Alberta, some volume is also sold through a third-party wholesaler. In these Western Canadian markets, there are both privately controlled retail stores (such as in Alberta, British Columbia, and Saskatchewan) and government-controlled retail stores (such as in British Columbia and Manitoba).
Distribution in the Atlantic Provinces
The company distributes and sells its products in the Atlantic Provinces (including New Brunswick, Newfoundland, Nova Scotia, and Prince Edward Island) through distribution and retail networks controlled by the government in the provinces of Nova Scotia, New Brunswick, and Prince Edward Island, and private distributors in Newfoundland.
Beer, CSD, and RTD Production Process
The most important stages are brewing and fermentation, followed by maturation, filtering, and packaging. Although malted barley (malt) is the primary ingredient, other grains, such as unmalted barley, corn, rice, or wheat, are sometimes added to produce different beer flavors.
The first step in the brewing process is making wort by mixing malt with warm water and then gradually heating it to approximately 75°C in large mash tuns to dissolve the starch and transform it into a mixture, called ‘mash,’ of maltose and other sugars. The spent grains are filtered out, and the liquid, now called ‘wort,’ is boiled. Hops are added at this point to give a special bitter taste and aroma to the beer and help preserve it. The wort is boiled for one to two hours to sterilize and concentrate it and extract the flavor from the hops. Cooling follows, using a heat exchanger. The hopped wort is saturated with air or oxygen, essential for the growth of the yeast in the next stage.
Yeast is a micro-organism that turns the sugar in the wort into alcohol and carbon dioxide. This process of fermentation takes five to eleven days, after which the wort finally becomes beer. Different types of beer are made using different strains of yeast and wort compositions. In some yeast varieties, the cells rise to the top at the end of fermentation. Ales and wheat beers are brewed in this way. Pilsen beers are made using yeast cells that settle to the bottom.
CSDs and RTDs are produced by mixing water, flavored concentrate, and sugar or sweetener. In the case of RTDs, alcohol is also included in this blend. Water is processed to eliminate mineral salts and filtered to eliminate impurities. Purified water is combined with processed sugar or, in the case of diet CSDs, with artificial sweeteners and concentrate. For CSDs and carbonated RTDs, carbon dioxide gas is injected into the mixture to produce carbonation. Immediately following carbonation, the mixture is packaged. In addition to these inputs, delivery of the product to consumers requires packaging materials, such as PET bottles, aluminum cans, labels, and plastic closures.
Suppliers
Barley and Malt
For the remaining malt demand, the company’s main supplier is Cooperativa Agroindustrial Agraria, located in the state of Paraná in Brazil.
Hops
The hops industry is concentrated in a few international suppliers, such as Barth-Haas Group and Hopsteiner.
Non-malted Cereals
Non-malted cereals are purchased from domestic suppliers, the most relevant of which are Ingredion, Cargill Agrícola, and Arrozeira Pelotas.
Concentrates
The concentrate for Pepsi CSD products is purchased from PepsiCo.
Juices
The company’s main suppliers are Louis Dreyfus Commodities, Cutrale, Citrus Juice, Litoral Citrus, and San Miguel.
Packaging
The company obtains the labels for its beer and CSD primarily from local suppliers; in Brazil, the majority of its beer label requirements are met by a printing house that belongs to FAHZ and is operated by it pursuant to a lease agreement. Crown caps in Brazil are mainly sourced from its vertical operation in Manaus, Arosuco. These producers also supply some of the company’s other Latin American operations.
Marketing
The company’s marketing initiatives are concentrated in off-trade and on-trade initiatives. Off-trade initiatives comprise mass media vehicles, such as television, radio, magazines, internet websites, social media, and influencers. On-trade initiatives include banners, and all types of enhancements to the point of sale, such as branded coolers and decorated furniture.
Licenses
Pepsi
The company has a long-term agreement with PepsiCo, whereby it has been granted the exclusive right to bottle, sell, and distribute certain brands of PepsiCo’s portfolio of CSDs in Brazil, including Pepsi-Cola, Gatorade, H2OH!, and Lipton Iced Tea. The company is also, through its subsidiaries, PepsiCo’s bottler for Argentina, Canada, Uruguay, Bolivia, and the Dominican Republic. In 2024, sales volumes of PepsiCo products represented approximately 36% of its total NAB sales volumes in Brazil, 43% of its total NAB sales volumes in the Dominican Republic, and 98% of its NAB sales volumes in Argentina, 96% of its NAB sales volumes in Bolivia, and 99% of its NAB sales volumes in Uruguay.
Red Bull
The company has a long-term distribution agreement with Red Bull, providing for the exclusive right to sell and distribute certain brands of Red Bull’s portfolio in specific limited points of sale of the on-trade channel in Brazil. The company also has agreements with Red Bull to distribute their portfolio in a few limited channels in Argentina and the Dominican Republic.
Licensing Agreements with ABI
Effective January 1998, Labatt entered into long-term licensing agreements with ABI, whereby Labatt was granted the exclusive right and license to manufacture, bottle, sell, distribute, and market some of ABI’s brands, including the Budweiser, Bud Light, Busch, and Busch Light brands, in Canada, including the right to use ABI’s trademarks for those purposes. The agreements expire in January 2098 and are renewable by either party for a second term of 100 years. In 2024, Budweiser, Bud Light, Busch, and Busch Light represented, in aggregate, approximately 62% of Labatt’s total beer sales volumes.
Stella Artois, Beck’s, and Brahma
The company has a cross-licensing agreement with ABI through which it is allowed to produce, bottle, sell, and distribute beer under the Stella Artois and Beck’s brands in Latin America and Canada on an exclusive basis, and ABI is allowed to produce, bottle, sell, and distribute beer under the brand Brahma in Europe, Asia, Africa, and the United States on an exclusive basis. Ambev has agreed not to produce directly or indirectly, bottle, distribute, sell, or resell (or have an interest in any of these), any other European premium branded beer in Latin America, and ABI has agreed to be bound by the same restrictions relating to any other Latin American premium branded beer in Europe, Asia, Africa, and the United States. As a result, in June 2005, the company launched Stella Artois in Brazil, and since March 2005, ABI has been distributing Brahma beer in the United States and several countries, such as the United Kingdom, Spain, Sweden, Finland, and Greece.
Corona
The company has licensing agreements with Grupo Modelo, S. de R.L. de C.V. (‘Cervecería Modelo’), a subsidiary of ABI, to produce, import, promote, and resell Corona products (Corona Extra, Corona Light, Coronita, Corona Cero, Pacifico, and Negra Modelo) in Brazil, Argentina, Chile, and other Latin American countries, as well as in Canada.
The company also has a licensing agreement with Grupo Modelo to produce, distribute, and market Modelo Especial and Corona Extra in Guatemala, to produce, distribute, and market Modelo Especial in the Dominican Republic, and to import, promote, and resell Modelo Especial in Canada.
Spaten
The company has a licensing agreement with Spaten-Franziskaner-Bräu GmbH, a subsidiary of ABI, to produce, promote, advertise, and sell Spaten in Brazil and Canada. The company also has certain arrangements to sell and distribute Spaten products in Uruguay.
Michelob and Goose Island
The company also has certain other agreements that allow it to sell and distribute Michelob Ultra, Michelob, and Goose Island in Brazil, Argentina, Chile, Uruguay, Paraguay, Guatemala, the Dominican Republic, Panama, Puerto Rico, Costa Rica, Nicaragua, and certain other countries in CAC, as well as in Canada.
Cutwater and NÜTRL
The company also has licensing agreements that allow it to produce, promote, advertise, and sell Cutwater in Canada, and that allow ABI to produce, promote, advertise, and sell NÜTRL in the United States.
Can Supply
The company has ABI’s subsidiary, Metal Container Corporation, as one of its main can suppliers.
History
Ambev S.A. was founded in 1885. The company was incorporated in 2005 under the Brazilian Corporation Law.
