Latest news with #GrupoModelo
The Age
04-07-2025
- Business
- The Age
Corona heiress is on edge about her $12.5 billion beer fortune
In February, Pablo and Tresalia CEO Perez joined Santiago on the board of the Spanish branch of fitness company Barry's Bootcamp, as it raised extra capital without disclosing the financing source. Pablo, the elder of the two, is also a managing director at Tresalia and helps to oversee its private equity division, according to his LinkedIn profile. 'This is not a small family office – it's a small investment management firm,' said Christina Wing, co-founder of Wingspan Legacy Partners, which advises ultra-wealthy families. 'If the people she hired match her strategy, it's a perfect set-up.' Aramburuzabala declined to comment for this story, as did her son Pablo. Santiago didn't respond to a request for comment. Aramburuzabala was thrust into the spotlight when her father, Pablo, died of cancer in 1995 at age 63. With no son as his heir-apparent, his death left a leadership vacuum in a business culture traditionally dominated by men. Loading 'The world caved in on us,' she told The New York Times in a 2002 interview. 'Friends, enemies, boyfriends – everyone wanted control. Less than a month after my father died, we had people coming to tell us that he had left them in charge, and that they were going to manage things for us.' At issue was the family's stake in Grupo Modelo, the Mexico City-based brewer that Aramburuzabala's grandfather co-founded in 1925. It grew quickly, acquiring Mexican competitors while rolling out new brands. In 1979, it introduced Corona to the US market for the first time, where it eventually became the top-selling imported beer. Budweiser maker Anheuser-Busch began to buy shares of Grupo Modelo in the early 1990s, eventually acquiring about half of the Mexican brewer. Quickly proving herself an adept negotiator, Aramburuzabala helped lead talks to sell the noncontrolling stake. She became vice chair of Grupo Modelo in 1996, the same year she founded Tresalia. After Belgian brewing giant InBev acquired Anheuser-Busch, the combined behemoth bought the remaining 50 per cent of Grupo Modelo in 2013, paying some $US20 billion. Aramburuzabala helped convince other shareholders to approve the deal after Anheuser-Busch InBev upped its offer price. While the exact stake the Aramburuzabala family held at the time isn't clear, it was among three major groups of shareholders to profit from the windfall. Maria Asuncion Aramburuzabala used part of the proceeds to buy AB InBev shares and joined the company's board along with Valentin Diez Morodo, another descendant of a Grupo Modelo co-founder. 'I don't want to be that typical leader that did everything and then at some point there's a hole and it goes sideways.' Maria Asuncion Aramburuzabala Overall, the Aramburuzabala family pocketed at least $US3 billion through Grupo Modelo stake sales, according to Bloomberg's wealth index. Three allies Aramburuzabala, who has an accounting degree from the Autonomous Technological Institute of Mexico, is among a growing population of ultra-wealthy women who've established their own family offices, though few set them up as long ago as the beer heiress. Tresalia – a portmanteau of Tres Aliadas, or Three Allies, for Aramburuzabala's sister, mother and herself – has over the years invested in and exited businesses like Mexican media company Grupo Televisa, fashion brand Tory Burch and data centre operator Kio Networks. Loading It has also stayed close to the fortune's origins in the consumer space, allocating to consumer-goods giant Kraft Heinz and riding the multibillion-dollar coffee bet of JAB Holding alongside other billionaire shareholders of AB InBev such as Alejandro Santo Domingo, the head of Colombia's richest family. Aramburuzabala stepped down as a director of AB InBev in 2023 after serving a decade on the company's board. She also resigned as a director of beauty company Coty earlier this year, leaving her without any board roles at listed companies. She's now spending more time on her hobbies such as travel and animal photography. Her passions also include deep-sea diving, an interest she has passed on to her sons, who both describe themselves as ocean explorers.
Sydney Morning Herald
04-07-2025
- Business
- Sydney Morning Herald
Corona heiress is on edge about her $12.5 billion beer fortune
In February, Pablo and Tresalia CEO Perez joined Santiago on the board of the Spanish branch of fitness company Barry's Bootcamp, as it raised extra capital without disclosing the financing source. Pablo, the elder of the two, is also a managing director at Tresalia and helps to oversee its private equity division, according to his LinkedIn profile. 'This is not a small family office – it's a small investment management firm,' said Christina Wing, co-founder of Wingspan Legacy Partners, which advises ultra-wealthy families. 'If the people she hired match her strategy, it's a perfect set-up.' Aramburuzabala declined to comment for this story, as did her son Pablo. Santiago didn't respond to a request for comment. Aramburuzabala was thrust into the spotlight when her father, Pablo, died of cancer in 1995 at age 63. With no son as his heir-apparent, his death left a leadership vacuum in a business culture traditionally dominated by men. Loading 'The world caved in on us,' she told The New York Times in a 2002 interview. 'Friends, enemies, boyfriends – everyone wanted control. Less than a month after my father died, we had people coming to tell us that he had left them in charge, and that they were going to manage things for us.' At issue was the family's stake in Grupo Modelo, the Mexico City-based brewer that Aramburuzabala's grandfather co-founded in 1925. It grew quickly, acquiring Mexican competitors while rolling out new brands. In 1979, it introduced Corona to the US market for the first time, where it eventually became the top-selling imported beer. Budweiser maker Anheuser-Busch began to buy shares of Grupo Modelo in the early 1990s, eventually acquiring about half of the Mexican brewer. Quickly proving herself an adept negotiator, Aramburuzabala helped lead talks to sell the noncontrolling stake. She became vice chair of Grupo Modelo in 1996, the same year she founded Tresalia. After Belgian brewing giant InBev acquired Anheuser-Busch, the combined behemoth bought the remaining 50 per cent of Grupo Modelo in 2013, paying some $US20 billion. Aramburuzabala helped convince other shareholders to approve the deal after Anheuser-Busch InBev upped its offer price. While the exact stake the Aramburuzabala family held at the time isn't clear, it was among three major groups of shareholders to profit from the windfall. Maria Asuncion Aramburuzabala used part of the proceeds to buy AB InBev shares and joined the company's board along with Valentin Diez Morodo, another descendant of a Grupo Modelo co-founder. 'I don't want to be that typical leader that did everything and then at some point there's a hole and it goes sideways.' Maria Asuncion Aramburuzabala Overall, the Aramburuzabala family pocketed at least $US3 billion through Grupo Modelo stake sales, according to Bloomberg's wealth index. Three allies Aramburuzabala, who has an accounting degree from the Autonomous Technological Institute of Mexico, is among a growing population of ultra-wealthy women who've established their own family offices, though few set them up as long ago as the beer heiress. Tresalia – a portmanteau of Tres Aliadas, or Three Allies, for Aramburuzabala's sister, mother and herself – has over the years invested in and exited businesses like Mexican media company Grupo Televisa, fashion brand Tory Burch and data centre operator Kio Networks. Loading It has also stayed close to the fortune's origins in the consumer space, allocating to consumer-goods giant Kraft Heinz and riding the multibillion-dollar coffee bet of JAB Holding alongside other billionaire shareholders of AB InBev such as Alejandro Santo Domingo, the head of Colombia's richest family. Aramburuzabala stepped down as a director of AB InBev in 2023 after serving a decade on the company's board. She also resigned as a director of beauty company Coty earlier this year, leaving her without any board roles at listed companies. She's now spending more time on her hobbies such as travel and animal photography. Her passions also include deep-sea diving, an interest she has passed on to her sons, who both describe themselves as ocean explorers.
Bloomberg
30-06-2025
- Business
- Bloomberg
Corona Heiress' Family Office Prepares for $8 Billion Succession
Maria Asuncion Aramburuzabala was thrown into crisis three decades ago when her father died before finalizing plans to pass on one of Latin America's biggest fortunes. She had to juggle raising two young sons with boardroom battles as opportunists sought a slice of her inheritance through Grupo Modelo, the Corona brewer founded a century ago. Now, as she approaches the age her father was when he died, the 62-year-old Mexican billionaire is making sure history doesn't repeat itself.
CTV News
11-06-2025
- Business
- CTV News
Heineken to invest over US$2.7B in Mexico through 2028
MEXICO CITY — Beer maker Heineken will invest US$2.75 billion in different projects in Mexico, the company's CEO in the country said on Wednesday. Oriol Bonaclocha said during Mexican President Claudia Sheinbaum's morning press conference that the investment will include the construction of a new factory in the country's southeast. The new plant in the state of Yucatan will have an initial production capacity of 4 million hectoliters and that amount is expected to be doubled in the future depending on the company's needs, Bonaclocha said. 'We do not plan to close any factories, this is an expansion,' he added. In April, Grupo Modelo, the producer of Corona and other Mexican beer brands, announced it would invest more than $3.6 billion in Mexico, despite concerns over water shortages in the country. The relationship between beer makers and other industries like agriculture has been a longstanding issue in Mexico. Almost three years ago, the construction of a Constellation Brands brewery in Mexicali was halted to protect local water resources and moved to Veracruz in eastern Mexico. (Reporting by Raul Cortes and Aida Pelaez-Fernandez. Editing by Chizu Nomiyama and Mark Potter)
Yahoo
28-04-2025
- Politics
- Yahoo
Mexico roiled by a surge of nationalism amid threats by Donald Trump
At the entrance to Mexico City's largest park lies a towering marble monument to six young military cadets killed in battle. The Niños Héroes — 'boy heroes' — died while defending Mexico's capital during the Mexican-American War, which broke out 179 years ago this week. That conflict may not loom large in the minds of most Americans. But in Mexico, which in defeat was forced to cede more than half of its territory to the US, memories of the war and other military quarrels with the nation's powerful northern neighbor remain deeply felt. Today, Mexico is once again locked in battle with the United States, this time facing an American president who is hurling insults, tariffs and threatening US drone strikes here. Many see it as just the latest chapter in an age-old tale of US aggression. 'In Mexico there's a perception that the United States is the villain of our story,' said historian Alejandro Rosas. 'That's the narrative you grow up with, it's what they teach you in school. We've been victims of the United States forever.' The Niños Héroes are often viewed as the embodiment of courage, teenagers who fought like men against a northern invader. Their faces have appeared on currency, streets bear their names, children learn about them in school. At the white marble monument in Chapultepec Park, which this week was crowded with families enjoying spring break, many stopped to take pictures in front of the monument where the remains of the Niños Heroes are entombed. 'It's unfair,' said Monserrat Martínez Hernández, 20, a college student who snapped selfies alongside her mother, sister and two cousins. 'They already took away half our territory,' she said of the United States. 'Now they want to abuse their power again, this time from an economic perspective.' Since Donald Trump took office in January, Mexico has been seized by a wave of nationalistic zeal. On TikTok, users have demanded a boycott of American products, filming themselves pouring Coca Cola down the drain. Companies have embraced the red, green and white of the Mexican flag in ad campaigns. After the government announced a relaunch of the 'Hecho en Mexico,' or 'Made in Mexico,' seal on locally produced products, Grupo Modelo said it would print the slogan on its beer bottle caps. Leading the way is Mexican President Claudia Sheinbaum, who has both stoked — and benefited from — the surge in national pride. In the face of Trump's repeated attacks, Sheinbaum has had to walk a thin line, appeasing him enough to try to avert potentially catastrophic tariffs while also showing fellow Mexicans that she is defending national sovereignty. She has cooperated with Trump on several key measures, sending thousands of National Guard troops to fortify the northern border and transferring dozens of suspected cartel members wanted by the U.S. But she has pushed back when possible, suggesting Mexico would retaliate if the Trump administration carried out drone strikes in its territory, pushing a constitutional measure that effectively bans the planting of US GMO corn and recently asking television stations to pull what she called 'discriminatory' ads produced by the Trump administration warning against undocumented migration. Her approval ratings — which hover around 80% — are among the highest in the world for a head of state. She seems to work the word for sovereignty — soberano — into almost every speech. Tellingly, she has often invoked history in her effort to rally support. This month she marked the anniversary of the sixth-month long US occupation of the port city of Veracruz in 1914. 'Mexico is and always will be a great country,' Sheinbaum told a stadium filled with smartly dressed naval officers. 'We are neither a protectorate nor a colony of any foreign nation.' Recently, Sheinbaum used the word 'traitor' to describe an opposition party member who voiced support for a US effort to designate drug cartels as 'terrorist' groups. She compared him with the conservative Mexicans who, in the 1850s, invited the French to help overthrow the liberal government of President Benito Juarez. The French ended up occupying Mexico for several years, briefly installing Ferdinand Maximilian Joseph, an Austrian duke, as emperor. But it is the history of US antagonism, with its roots in manifest destiny and President James K. Polk's obsession with territorial expansion, that Mexicans best remember. In 1845, the US annexed Texas, a move Mexico rejected. After Mexican troops attacked U.S. soldiers in Texas on April 25, 1846, the US formally declared war. The 1847 battle over Mexico City is recalled on the US side in the opening line of the Marines' Hymn: 'From the Halls of Montezuma ...' The US and Mexico share a 2,000-mile long border and deep cultural, economic and family ties. Americans are largely welcomed with open arms and warm hospitality when they visit Mexico's vibrant cities, archaeological ruins and vast beaches. But if an undercurrent of hostility is at times detectable, Rosas says it is related to how Mexicans are educated about their history. While neighboring countries often have territorial disputes, he said Mexican governments, particularly those associated with the Institutional Revolutionary Party, made the U.S. the boogeyman in order to drum up domestic support, he said. 'They needed a shared enemy,' Rosas said. 'So they embraced very defensive, nationalistic and anti-interventionist politics.' It's no mistake, he said, that the war between the U.S. and Mexico is often referred to as 'the United States intervention.' At the Niños Héroes monument, Mexicans reflected on that past and possible conflicts — economic ones — looming in the future. Felix de la Rosa, 64, a chemical engineer from the state of Coahuila, which borders Texas, says he visits the monument every time he's in Mexico City. 'As Mexicans, we have to unite for this new battle — which is a trade war,' he said. 'But we shouldn't bow our heads without fighting. I think the boy heroes are a great example, and that is how we should act, with great courage and dignity in the face of this new battle.' But for some, the lesson of history is that Mexico may again suffer the fate of being neighbor to one of the most powerful countries in the world. 'The truth is, our country doesn't have the economic strength they have,' said Gerardo Santos, a 33-year-old businessman. 'Our country is weaker, and President Trump knows this and takes advantage of it.' 'In the end, the gringos will win again,' he said. 'There's nothing we can do about a man like Trump. The guy is crazy.'
