Kofola expands its Latin American footprint, acquiring microbreweries in Panamá, Columbia and Ecuador
After investing in coffee farms in Colombia and Panama, the Kofola beverage group has decided to acquire a stake in Alta Fermentación. The company owns three microbreweries, a coffee roastery, and a rum distillery in Latin America, and also operates a network of pubs, restaurants, and cafés.
The Kofola Group is buying a 49% stake in Alta Fermentación, which operates in Panama, Colombia, and Ecuador and generates USD 20 million٭ in revenue primarily through its brands of high-quality craft beers. It has more than 400 employees who look after award-winning brands such as La Rana Dorada, Pola del Pub, and Sinners, as well as a network of cafés and the Colo Coffee brand of the same name, and the premium Panamanian rum brand Pedro Mandinga.
"Coffee originally brought us to Latin America. It was important for us to obtain high-quality beans for our coffee brands, which we distribute primarily to the Czech and Slovak gastronomy sectors. However, Colombia and Panama began to open up opportunities for our further Latin American development. Through this acquisition, we are gaining three renowned microbreweries, high-quality local beer brands, which are among the few available on tap in Colombia, Panama, and Ecuador. In addition, we are gaining a network of nearly 40 authentic pubs and cafés," explains Jannis Samaras, CEO of the Kofola Group, adding: "It was also crucial for us that the founders of Alta Fermentación are building their business with similar verticals as us and strive to think about their beverages from seed to product. I believe that thanks to synergies, we will be able to increase efficiency and multiply sales on both sides."
Alta Fermentación's goal by 2030 is to become the leading craft beer and beverage company in Colombia and Panama. "We are delighted to have found a partner like Kofola on this journey of development," says Berny Silberwasser and Tomas Delfino from Alta Fermentación. "We believe that our joint synergies will help us not only to open new establishments and launch a franchise concept, but also to introduce our key beer specialty, La Rana Dorada beer brand, to the international market."
La Rana Dorada is a local and modern beer brand that has been on the market since 2010. The craft brewery in Panama produces 660,000 liters, which are served in 11 pubs. The second key brewery in Bogotá produces the Pola del Pub and Germania brands, which attract over 500,000 visitors a year with the El Irish concept of 13 pubs. The third brewery is located in Ecuador and is based on the Sinners brand. An interesting part of Alta Fermentación's business is the coffee brand COLO Coffee, which operates nine cafés of the same name and consumes 26,000 kilograms of coffee annually.
"We work with more than 10 different exotic coffee varieties. We support 20 families who have dedicated their lives to coffee. There are approximately 60 people with whom we work in our coffee division and with whom we strive to revive and preserve the heritage of their ancestors," describes Daniel Duarte from Colo Coffee.
The Latin American producer's portfolio is complemented by the Panamanian distillery Pedro Mandinga, which produces 26,000 bottles of rum annually from the finest ingredients from the foot of the Barú volcano. Three specific rum bars are visited by approximately 50,000 visitors annually.
Alta Fermentación’s total EBITDA is more than USD 4 million. The fact that it is built on strong brands is also proven by dozens of international awards, including a gold medal for Pola del Pub at the World Beer Cup.
Kofola, which shall become a minority owner of Alta Fermentación, is expanding its operations in Latin America and increasing the export potential for its Czechoslovak and Adriatic brands. After gaining experience in Colombia and Panama, where it has been gaining experience for over a year through coffee farms, it is now entering Ecuador. Both parties have agreed not to disclose the price of the transaction. The transaction will be closed by the end of the first half of 2026.