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Heineken sees synergies from Distell deal but not from job losses -Breaking

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© Reuters. FILE PHOTO: A Heineken logo was seen on the company building in Sao Paulo (Brazil) April 30, 2019. Picture taken April 30, 2019. REUTERS/Amanda Perobelli/File Photo

BRUSSELS, (Reuters) – The chief executive of Dutch brewer Heineken said Monday that he sees synergies between production, logistics, and procurement in South Africa’s Distell Group Holdings (and Namibia Breweries Ltd) but doesn’t see these coming from job loss.

The cost synergies are not job-driven, but there is good value. Dolf Van den Brink stated that they will be engaging the minister of commerce on this issue, although he said that he doesn’t anticipate any job cuts in the immediate future.

Hw added that revenue synergies will be significant, adding “I believe typically that’s code for at least 10% revenue or more. Which I believe is what we have usually been able to deliver in similar transactions in the past.”

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