Ambev, the Brazilian unit of Anheuser-Busch InBev, has acquired craft brewer Colorado for an undisclosed amount.
The acquisition is a part of the Ambev's strategy to continue buying premium brands in order to boost up stagnant beer sales volumes in South American market.
In May, Ambev acquired Bogotá Beer Company, Colombia's largest craft brewer. This comes on heels of the acquisition of Brazilian craft brewer Wls in February by Ambev.
AmBev is a producer and distributor of beer and soft drinks.
Ambev sells its beers to various markets including Antarctica, Brahma, Bohemia, Skol, Stella Artois as well as soft drinks such as Guaraná Antarctica, Soda Antarctica, Sukita in addition to H2OH! and Guarah.
Ambev currently has operations in 17 countries including Brazil, Canada, Argentina, Bolivia, Chile, Paraguay, Uruguay, Guatemala, Dominican Republic, Cuba, Ecuador, Peru, El Salvador, Nicaragua, Saint Vincent, Dominica and Antigua.
Launched in 1996 by businessman Marcelo Carneiro, Colorado exports its beers to France and the US. The beer is flavored with coffee, honey or nuts.
Headquartered in Sao Paulo state, Brazil, the brewer had $5.96m in revenue last year, according to analysts.
