S.A. Damm, one of Spain’s largest beverage companies, has taken a minority stake in United States Beverage. US Beverage currently imports and markets Estrella Damm, INEDIT and Daura in the United States for Damm.
“I’m excited by this partnership particularly because I believe our business across the entire portfolio will benefit,” Joseph Fisch, president and CEO of US Beverage, said for a press release. “The investment will provide USB with greater stability, market power and resources, enhancing our ability to optimize the position for all of our brands.”
“Group Damm’s goal is to be the leader in each sector in which we compete,” said Jorge Villavecchia, CEO, S. A. Damm. “In looking for access to the lucrative US market, we wanted to find the right partner, with a proven track record for building great brands. US Beverage has proven through their performance that they are the ideal partner for us in the US.”
The USB management team will continue to manage all aspects of the company. The company plans to increase its sales force in major markets throughout the US.
“Through a combination of smart marketing and focused sales, every brand in our portfolio has experienced double-digit growth year to date,” Fisch said. “With the additional resources that we’ll be adding in terms of increased personnel and brand spending, our outlook for 2011 is equally strong.”