The final example of a global market leader is Heineken (XAMS:HEIO), one of the world’s top beer brewers. Founded in Amsterdam in 1864 the company today operates globally selling beer in more than 70 countries and has more than 200 brands including Amstel, Dos Equis, Kingfisher, and Newcastle as well as its namesake. Although headquartered in a relatively small country, Heineken became a leading exporter of beer to other countries starting as early as the 1920s, and today the company’s reach is truly global. For example, Heineken sells more beer in Africa than it does in the United States. As beer sales growth has been flat in most developed economies over the past decade, we believe Heineken’s established position in developing and frontier markets may be a key to the company’s continued success.
From Chris Davis (Trades, Portfolio)’ Davis International Fund 2015 Annual Review.
