Cia. de Bebidas das Americas, Latin America's biggest brewer, gained a greater foothold in the Brazilian beer market in September after price increases earlier this year caused the company to lose market share, Credit Suisse said.
The Sao Paulo-based unit of Inbev NV, known as Ambev, increased 0.4 percentage point to 67.7 percent of the Brazilan market. Fomento Economico Mexicano SAB, Latin America's largest beverage company, lost 0.4 percentage point to 7.4 percent, Marcel Moraes, Tufic Salem and Antonio Gonzalez, analysts at Credit Suisse, wrote in a research note yesterday, citing A.C. Nielsen data.
AmBev is usually the first to raise prices each year, hurting sales before rivals gradually match the increases, Credit Suisse said.
AmBev's share dropped to 66.7 percent in July after a Brazilian law placed harsher penalties on drunk driving. That hurt bar sales in the Southeast, where the company has greater penetration than its rivals, Credit Suisse said.
Primo Schincariol Industria de Cervejas e Refrigerantes SA's share of the Brazilian beer market remained at 12.9 percent while Petropolis gained 0.2 percentage point to 9.5 percent, Credit Suisse said.
AmBev preferred shares rose 0.8 percent to 98.32 reais at 10:52 a.m. in Sao Paulo trading.
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