Heineken takes control of two joint ventures from Diageo

Heineken, the world’s second largest brewer by sales, has taken control of  two joint ventures from its partner, Diageo.
   
It spent US$781 million to shore up control of several brands, including Jamaica’s Red Stripe beer, amid a consolidation sweep in the industry.      
 
Heineken, the Amsterdam-based brewer, bought a 57.9 per cent stake in Desnoes & Geddes, bringing its holding to 73.3 per cent. It will later make an offer for the remaining shares.
    
It is streamlining control of  joint ventures, as transformative deals are harder to come by in a market facing waning demand for mainstream brands, and weak North American consumption.