Heineken has made a small-scale M&A move in Brazil, agreeing the full purchase of Better Drinks Participações through its division in the country.
The transaction, confirmed to Global Drinks Intel yesterday (9 November), was signed by the pair late last month. Financial details were not disclosed, with the deal “still subject to the fulfilment of certain conditions, including approval by authorities”, the group said.
Heineken Brazil has been working with Sao Paulo-based Better Drinks since July 2024, handling the start-up’s “commercialisation and distribution” needs domestically through its ‘Heineken Spin’ project. The “business ecosystem” partners with ESG-focussed companies in the country in areas including regenerative agriculture, packaging circularity and energy transition.
Having initially bought a minority stake in Better Drinks as part of the ‘Heineken Spin’ arrangement, last month’s full acquisition “represents a natural evolution of the partnership”, a spokesperson said this week.
Commencing operations in 2022, Better Drinks holds the rights to the Baer Mate sparkling yerba-mate tea (above), Mamba Water canned water and Praya craft beer brands. Among the company’s founders is Felipe Szpigel, who spent 12 years working for AB InBev’s Brazilian division, Ambev, before heading to corporate HQ in the US in 2012, first as VP of global trade marketing and then as president of ‘The High End’ unit.
Szpigel left AB InBev at the end of 2018.
In sales for the calendar year to date (to the end of September), announced late last month, Heineken credited a stronger third quarter for driving a year-on-year rise in sales of 3.4%. Having booked a flat top-line performance in the first half of 2026, the brewer’s ‘Americas’ reporting region delivered a Q3 lift of 3.1%, albeit compared to a weaker year-prior comparable.
