History

AmBev is the largest private company of consumer goods in Brazil, and Latin Americas largest
brewer. It has operations in 14 countries of the three Americas and is a part of the biggest
worldwide platform for the production and sale of beer, as a result of the global operation signed
with Interbrew (today InBev) in 2004. Its results have been mounting, with solid improvements in
profits and cash generation based upon management practices that ensure the efficiency and
sustainability of the Companys businesses.
AmBevs Brazilian origins date back to 1885, when the first Antarctica factory plant was built in So
Paulos district of gua Branca. After a period producing ice and food, the plant started brewing
beer, thus marking the beginning of a rapid entry into the beer market. This was solidified over the
years by numerous acquisitions, including Cervejaria Bavria in 1904 and Cervejaria Bohemia
(the oldest brewer in Brazil) in 1961.
Brahma was first brewed in Brazil in 1888, when Swiss brew master Joseph Villiger established the
brewery Manufatura de Cerveja Brahma Villiger & Companhia in Rio de Janeiro. The plant started
with a daily production of 12,000 liters of beer and 32 employees. By 1934, bottled Brahma beer
had become Brazils most popular beer with 30 million liters produced per year.
Brahmas corporate growth continued through the years through acquisitions, such as of Astra S.A.
(1971), Cervejarias Reunidas SkolCaracu S.A (1981), as well as with a number of strong
production and distribution alliances. In 1997, Brahma acquired Pepsi-Cola Engarrafadora Ltda.
and PCE Bebidas Ltda., PepsiCo bottlers in the south and southeast of Brazil, at the same time
acquiring the exclusive rights to produce, sell and distribute Pepsi soft drinks in the northeast of
Brazil. In 1999, Companhia de Bebidas das Amricas (AmBev) was formed by the merger of
Brahma and Antarctica.
On October 9, 2000, following this alliance, AmBev entered into a new franchise agreement with
PepsiCo which terminated the Brahma franchise agreement and granted the Company the sole
bottler and distributor rights for Pepsi soft drink products in Brazil.
In 2002, AmBev expanded its partnership with PepsiCo to include the production, sales and
distribution of Gatorade. On January 31, 2003, AmBev completed a business combination with
Quinsa, through which AmBev acquired a 40.5% initial economic interest in Quinsa and established
a leading presence in the beer markets of Argentina, Bolivia, Paraguay, Chile and Uruguay.
In 2004, due to the acquisition of the Canadian brewery Labatt, AmBev consolidated its position as
a genuine American beverage company, with operations in the three regions of the hemisphere
extending from Patagonia to Alaska.
On August 2006, AmBev announced the closure of the transaction with Beverages Associates Corp.
(BAC) on which BAC agreed to sell all of its remaining shares in Quinsa to AmBev, increasing to
approximately 91% of its total share capital.

Organization & Structure

Guide to Brand
A large and diversified portfolio, supported by permanent innovation, allows AmBev to offer products for different consumer
profiles and consumption occasions. It has beers, soft drinks, ready-to-drink teas and mineral water to satisfy all preferences.

The Company also invests on the continuous development of its brands through creative and intriguing campaigns, striving
to keep them always fresh in the minds of consumers. AmBev seeks consistent growth through positions that reinforce its
ties with consumers and strengthen the value of its brands.

Competitive advantages in costs and services

Distribution is one of the beverage business most complex aspects. AmBev services approximately 2 million points of
purchase in Latin America. To be able to do this, it combines direct and outsourced distribution, through exclusive retailers,
comprising a multi-brand network that ensures deep market penetration and competitive advantages in costs and services.

Key External Relationships

AmBev maintains a number of key external relationships which help guide its activities in a more sustainable manner. Below
is a brief description of these :
ABIR The Brazilian Association of Soft Drink and Non-Alcoholic Beverages Manufacturers is an entity that represents
manufacturers of soft drinks,bottled water, juices, teas, and sport drinks.+
ADAN The Association for the Defense of the Environment and Nature is a non-profit non-governmental organization that
works to improve communities quality of life through the proper destination of solid residues in Venezuela.
ADOFACE The Dominican Republic Association of Beer Producers.
ASBEGA The Peruvian Association of Soft Drink Producers.
CAPEBRAS Chamber of Commerce and Integration between Peru-Brazil.
SNI The Peruvian National Industry Society.

Vision & Strategy

Ambevs vision: to be the best beer production and distribution platform in the world. For us, being the best means, on the
one hand, to reach the highest profitability in the beer industry. Nevertheless, this goes beyond figures. This must be
conquered with quality. On the other hand being the best means: to own the best brands and those growing more rapidly; to
have the best products for consumers; to be recognized by customers as their best partner; to maintain the best and most
committed People; to build a solid and unique culture; it also means to dare to move on and lead the changes needed to
make dreams come true.
Cultures and Values
Ambevs strategy guides us to achieve our vision of moving from Biggest to Best, but it is our People, working together, that
will define if we will achieve our vision. Our culture is the way we do things - it is the AmBev Way, which guides our Peoples
behavior and actions, and which is a combination of our values, our beliefs, and our management practices and principles.
Each of our employees is responsible for consistently working towards, and living by, our four values :

Our consumers come first

Our people make the difference
We make things happen
We lead the way

The company expresses its commitments towards sustainability both internally and externally. With the focus of obtaining
sustainable results, AmBev settles its actions on three pillars: economic, environmental and social. AmBev considers its
profitability as an economic responsibility so that the business can generate economic and financial values to its
stakeholders, such as employees and investors. Environmental responsibility lies with the Companys concern about
ecoefficiency and environmental protection. AmBev includes as its social responsibility the relationship with employees,
communities, national governments, NGOs and the concern with the Responsible Consumption of its products. Ethics
permeates all these actions and the attitude of the Companys People.