Mexico's Grupo Modelo Intends to Enter Brazil Beer Market

Grupo Modelo has said it intends to enter Brazil's beer market since it expects to face tougher competition from Heineken-owned FEMSA Cerveza at home in Mexico. Modelo is still weighing up an entrance in Brazil, said the Mexican brewer's head of sales and marketing, Jose Pares. However, the Mexican brewer is reluctant to announce a date or comment on its distributor options. Last week, Modelo reported global net sales for the 12 months to the end of December up by 7.3%, to MXN91.2bn (US$7.1bn). Volume sales rose by 6% on 2010.