Heineken has acquired controlling ownership of Better Drinks, the Brazilian company behind Praya, Baer-Mate, and Mamba Water. The Dutch brewer will hold 100% of the voting shares through its local subsidiary HNK BR Indústria de Bebidas. The brands operate within Heineken Spin, an ecosystem that has generated R$560 million in revenue over two years.
Deal terms
Heineken will subscribe to new ordinary shares and purchase existing ordinary shares from 67 shareholders. CEO Felipe Della Negra's ordinary shares will convert into preferred shares. The deal follows a minority partnership that began in 2024.
Company background
Better Drinks was founded in 2022 by Felipe Della Negra and Felipe Szpigel. Della Negra previously led Red Bull Brasil, while Szpigel worked at AB InBev. Heineken has handled sales and distribution for the brands since 2024 and later took over production.
Product lineup
Praya is a light, gluten-free craft beer produced at Heineken's Jacareí brewery. Baer-Mate is a sparkling mate-based tea that appeals to younger consumers. Mamba Water sells healthy drinks, including a protein water with 20 grams of collagen protein.
Heineken already manufactures Mamba Water and has produced Praya since September 2025. The acquisition also includes dormant brands Vivant and F!VE Drinks with no sales since 2024. The transaction still requires approval from Brazil's antitrust authority Cade.