In a paid announcement in the newspapers yesterday, Wednesday, 19 November 2014, the Cerveceria Nacional Dominicana (Dominican National Brewery) and the Compania Cervecera Ambev Dominicana announced the completion of their corporate merger. On 21 October 2014, the general assemblies of the two companies approved the merger, which will take effect starting on 1 December, according to the press release.
Ambev Dominicana now absorbs the assets, debts and obligations and the commercial name of the Cerveceria Nacional Dominicana, with this being the name of the new beer company in the country. In April 2014, Ambev announced the acquisition of 51% of the shares of the Cerveceria Nacional Dominicana (CND) for a total of US$1.237 billion.
Jose A Leon, chairman of the Board of Directors of E Leon Jimenes S.A., the company that owned 83.5% of the shares of the Cerveceria Nacional Dominicana, reported that with the transaction they were seeking to establish a strategic alliance that aims to transform the company into the leading Caribbean beverage company. Ambev Dominicana is a subsidiary of Brazil’s Compania de Bebidas de las Americas (Ambev). In September 2014, the company announced the expansion of their operations in the country with an additional investment of US$100 million during the coming year. The new Cerveceria Nacional Dominicana controls the beer market in the country.