XML 27 R7.htm IDEA: XBRL DOCUMENT
v3.21.1

General Information | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure of general information about financial statements [Abstract] |
Disclosure of general information about financial statements [text block] | Note 1 General Information A) Company information Compañía Cervecerías Unidas S.A. (hereinafter also “CCU”, “the Company” or “the Parent Company”) was incorporated in Chile as an open stock company, and is registered in the Securities Registry of the Comisión para el Mercado Financiero (CMF) under Nº 0007, and consequently, the Company is overseen by the CMF. The Company’s shares are traded in Chile on the Santiago Stock Exchange and Electronic Stock Exchange. The Company is also registered with the United States of America Securities and Exchange Commission (SEC) and its American Depositary Shares (ADS)’s are traded in the New York Stock Exchange (NYSE). There was an a mendment to the Deposit Agreement dated December 3, 2012, between the Company, JP Morgan Chase Bank, NA and all holders of ADRs, whereby there was a change in the ADS ratio from 5 common shares for each ADS to 2 common shares for each ADS, effective as of December 20, 2012. CCU is a regional multicategory beverage company, with operations in Chile, Argentina, Uruguay, Paraguay, Colombia and Bolivia. CCU is the largest Chilean brewery, the second largest brewery in Argentina, the second largest producer of soft drinks in Chile, the second-largest wine producer in Chile, the largest producer of bottled mineral water, nectar and sport drinks in Chile and one of the largest pisco producers in Chile. Also in Chile, CCU participates in the business of Home and Office Delivery (“HOD”), which involves home delivery of purified water in dispensers, and in the distribution of other spirits categories, such as rum, vodka, whiskey and gin, among others. The Company also participates in the cider, spirits and wine industries in Argentina, and in the industry of mineral water and soft drinks and beer in Uruguay, Paraguay, Colombia and Bolivia. Compañía Cervecerías Unidas S.A. is under the control of Inversiones y Rentas S.A. (IRSA), which as of December 31, 2020, is the direct and indirect owner of 60% of the Company’s shares. IRSA is currently a joint venture between Quiñenco S.A. and Heineken Chile Limitada, a company controlled by Heineken Americas B.V., each with a 50% equity participation. The Company’s address and main office is located in Santiago, Chile, at Avenida Vitacura Nº 2670, Las Condes district and its tax identification number (Rut) is 90,413,000-1. As of December 31, 2020 the Company had a total 9,051 employees detailed as follows:
| Number of employes
| Parent company | Consolidated
Senior Executives | 10 | 14
Managers and Deputy Managers | 90 | 451
Other workers | 318 | 8,586
Total | 418 | 9,051
These Consolidated Financial Statements include: Statement of Financial Position, Statement of Income, Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows (direct method), and the Accompanying Notes with disclosures. In the accompanying Statement of Financial Position, assets and liabilities that are classified as current, are those with maturities equal to or less than twelve months, and those classified as non-current, are those with maturities greater than twelve months. In turn, in the Consolidated Statement of Income, expenses are classified by function, and the nature of depreciation and personnel expenses is identified in footnotes. The Consolidated Statement of Cash Flows is presented using the direct method. The figures in the Consolidated Statement of Financial Position and their explanatory notes are presented compared to the previous year (2019) and the Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity, Consolidated Statement of Cash Flows and their explanatory notes are presented compared with 2019 and 2018. These Consolidated Financial Statements are presented in thousands of Chilean pesos (ThCh$) and have been prepared from the accounting records of Compañía Cervecerías Unidas S.A. and its subsidiaries. All amounts have been rounded to thousand Chilean pesos, except when otherwise indicated. The Company’s functional currency and presentation currency is the Chilean peso, except for some subsidiaries in Chile, Argentina, Uruguay, Paraguay and Bolivia, which use the US Dollar, Argentine peso, Uruguayan Peso, Paraguayan guaraní and Bolivian, respectively. The functional currency of joint operations in Colombia and associates in Perú, are the Colombian peso and the Sol, respectively. However, they use the Chilean peso as the presentation currency for consolidation purposes. Subsidiaries whose functional currencies are not the Chilean peso and are not a currency from a country which economy has been classified as hyperinflationary, have converted their financial statement from their functional currency to the Group’s presentation currency, which is the Chilean peso. The following exchange rates have been used: for the Consolidated Statement of Financial Position and the Consolidated Statement of Changes in Equity, the year-end exchange rate is used, and for the Consolidated Statements of Income, Consolidated Statements of Comprehensive Income and the Consolidated Statement of Cash Flows, either the transaction date exchange rate is used, or the average monthly exchange rate, as appropriate. For consolidation purposes, the assets and liabilities of subsidiaries whose functional currency is different from the Chilean peso, are translated into Chilean pesos using the exchange rates prevailing at the date of the Consolidated Financial Statements, while the Gains (losses) on exchange differences caused by the conversion of assets and liabilities are recorded in the Conversion Reserves account under Other equity reserves. Income, costs and expenses are translated at the average monthly exchange rate for the respective periods. These exchange rates have not undergone significant fluctuations during the year, with the exception of subsidiaries in hyperinflationary economies. (See Note 2 –Summary of significant accounting policies, (2.4) ). Covid-19 Pandemic With respect to the COVID-19 pandemic, as of the date of this report, we continue selling, producing and distributing our products, in all of our business operations. Since the COVID-19 was declared a pandemic in March 2020 by the World Health Organization, we have implemented a regional plan in the countries where we operate with three priorities: the health and safety of all our workers and the people we interact with, the continuity of our operations, and the financial health of the Company. To achieve these objectives, we established seven Corporate Covid Protocols in all our facilities, we have fully met the measures dictated by the authorities, actively promoted preventive and self-care measures to our workers and we allowed home-office for thousands of people, when it was possible. All of the measures, allowed us to maintain a safe work environment, being essential to balance the safety of the people and to continue supplying our customers and consumers with our products without interruption. Along with the above, the Company has developed several initiatives for the benefit of the community which it interacts with, based on innovation, using its facilities, raw materials and production processes to develop protection supplies against the virus. Some of the initiatives were the donation of hand sanitizer and disinfectant alcohol to the Ministry of Health in Chile, the donation of face shields and acrylic protectors to our clients and other public institutions, the coordination of an humanitarian flight to return Chilean and Colombian citizens to their country, food and health supply donations, and street sanitation in the communities near our operating centers among others. Regarding the financial health of the Company, before the beginning of the pandemic, CCU had a solid financial position with a healthy balance sheet with low financial debt, this condition has allowed us to access the local financial market to obtain the necessary financing to provide continuity to its medium and long-term plans, and if necessary, it would allow us to access the international market. The latter can be noted in a decrease of around 12% of the net financial debt (compare with 2019) , which was mainly due to a contraction in our Cash inflow from operating activities excluding Income tax paid and the optimization of working capital. [MNJO1] In terms of Net income attributable to the equity holders of the parent (a decreased of 26.1% versus 2019), its contraction was mainly due to the devaluation of the CLP and ARS currencies against the USD, affecting costs indexed to USD and negative currency translation effects. However, there was an impact on financial results due to the pandemic, which negatively affected higher margin consumer occasions, through distribution channels and packaging formats. The latter although it was limited and it has been diminished in recent months, it cannot be ruled out that it will deepen in 2021 as a result of a possible resurgence of Covid-19 outbreak s . B) Brands and licensing In the Chile Operating segment, CCU’s portfolio of brands in the beer category consists of its own CCU brands, international licensing brands, and the distribution of Craft brands. CCU’s own beer brands correspond to products locally produced, marketed, and distributed by Cervecería CCU which include the following brands; Cristal, Escudo, Royal Guard, Morenita, Dorada, Andes, Bavaria, among others and Stones in its Lemon, Maracuyá and Guaraná, and Red Citrus varieties. The international licensing brands are mostly produced locally while others are imported. All are marketed and distributed by Cervecería CCU including among others, Heineken, Sol, Coors and Blue Moon. The Craft beer brands (Austral, Polar Imperial, Patagonia, Kunstmann, Szot, Guayacán, D´olbek and Mahina) are brewed mostly in their original breweries and, in partnership with Cervecera CCU, are marketed and distributed by the Company. In the Chile Operating segment, in the non-alcoholic beverage’s category, CCU has the Bilz, Pap, Kem, Kem Xtreme, Nobis, Pop, Cachantun, Mas, Mas Woman and Porvenir brands. In the HOD category, CCU has the Manantial brand. The Company, directly or through its subsidiaries, has licensing agreements with the following brands: Pepsi, 7up, Mirinda, Gatorade, Adrenaline Red, Lipton Ice Tea, Crush, Canada Dry Limón Soda, Canada Dry Ginger Ale, Canada Dry Agua Tónica, Nestlé Pure Life, Watt’s, Watt´s Selección and Frugo. In Chile, CCU is the exclusive distributor of the Red Bull energy drink and Perrier water. Through a joint venture it also has the following brands in the powder juices category: Sprim and Fructus, which are proprietary, and a license for the Vivo and Caricia brands. Additionally, in the Chile Operating segment, in the pisco and spirit category, CCU owns the Mistral, Tres Erres, Campanario, Horcón Quemado, Control Valle del Encanto, Espíritu de los Andes, La Serena, Iceberg, Hard Fresh, Ruta Cocktail, Sabor Andino Sour, Sol de Cuba, brands, together with the respective line extensions, as applicable. In the rum category, the Company owns the Sierra Morena (and their extensions) and Cabo Viejo brands. In the liquor category, the Company has the Kantal, Fehrenberg and Barsol brands and is the exclusive distributor in Chile of Pernod Ricard in the traditional channel. Finally, in the cider category, the Company owns the Cygan brand. On August 8th 2019 CCU announced that its subsidiary Compañía Pisquera de Chile S.A. (CPCh) acting through out Inversiones Internacionales SpA. and International Spirits Investments USA LLC, have communicated to LDLM Investment LLC their decision to initiate the sell of its whole participation in Americas Distilling Investment LLC (“ADI”) which amount to 40%. ADI is the owner of the Peruvian Company Bodega San Isidro S.R.L. (“B.S.I”) and the Barsol brand. In Argentina, CCU produces beer in its plants located in Salta, Santa Fe and Luján. Its main brands are Schneider, Imperial, Palermo, Bieckert, Santa Fé, Salta, Córdoba, Isenbeck, Diosa, Norte, Iguana and Báltica. At the same time, it is the holder of exclusive license for the production and marketing of Miller, Heineken, Amstel, Sol, Warsteiner and Grolsch. CCU also imports Kunstmann and Blue Moon brands, and exports beer to different countries, mainly under the Schneider, Heineken and Imperial brands. Besides, CCU participates in the cider business, with control of Saenz Briones, selling the leading market brands “Sidra Real”, “La Victoria” and “1888”. Also participates in the spirits business, which are marketed under El Abuelo brand, in addition of importing pisco from Chile, as well as also sells and distributes of Eugenio Bustos and La Celia. Since June 2019, the Company has incorporated to its wine portfolio Colon and Graffina brands belonging to Finca La Celia (subsidiary in Argentina of the Chilean subsidiary Viña San Pedro de Tarapacá S.A. (VSPT)). (See Note 1 - General information letter D) number (9) ) . In the Wine Operating Segment, CCU through its subsidiary VSPT has an extensive portfolio of wine brands produced by the eight wineries that make up the group. Among them are: Altaïr, Cabo de Hornos, Sideral, 1865, Castillo de Molina, Epica, Gato (in domestic market) and GatoNegro (in export market) from Viña San Pedro, the Reserva and Gran Reserva lines of Viña Tarapacá and its Blue and Black labels; Viña Leyda in its Reserva, Single Vineyard and Lot series; Misiones de Rengo Varietal, Reserva, Cuvée, Gran Reserva Black and its Sparkling line; in addition to Alpaca, Reservado and Siglo de Oro Reserva de Viña Santa Helena; and in the sparkling category, Viñamar in its expressions Traditional Method, Extra Brut, Rosé, Moscato, Brut, Unique Brut, Unique Moscato, ICE and Zero Dealcoholized, and, finally, Manquehuito in the coolers category. In Argentina, CCU counts with the brands La Celia, Graffigna, Colón and Santa Silvia acquired in May 2019, as indicated in the previous paragraph.
In Uruguay, the Company participates in the mineral water business with the Nativa Mas and Nix brands, soft drinks with the Nix brand and nectars with Watt's brand, in isotonic drinks with the FullSport brand and energy drinks with the Thor brand. In addition, it sells imported beer under the Heineken, Schneider, Imperial, Escudo Silver, Kuntsmann and Miller brands. Recently, in the wine category, Misiones de Rengo, Eugenio Bustos and La Celia brands were launched. In Paraguay, the Company participates in the non-alcoholic and alcoholic drinks business. Its portfolio of non-alcoholic brands includes Pulp, Watt's, Puro Sol, La Fuente and the FullSport isotonic drinks. These brands include our own licensed and imported brands. The Company in the alcoholic drinks business is the owner of Sajonia beer brand and imports Heineken, Amstel, Paulaner, Sol, and Kunstmann brands. Since January 2020, CCU opened a wine category with the brands Misiones de Rengo and La Celia. Since November 2014 in Colombia, CCU participated in the beer business through its joint venture with Central Cervecera de Colombia S.A.S. (CCC). CCC has an exclusive licensing contract for importing, distributing, and producing Heineken beer in Colombia. In October 2015, Coors and Coors Light brands were incorporated into CCC’s brand portfolio through licensing contracts for the production and/or marketing of them. This licence was extended only until December 2019. As of December 2015, Artesanos de Cerveza’s company was acquired together with its Brand “Tres Cordilleras”. As of April and July of 2016, the Tecate and Sol brands were incorporated respectively with a licensing contract to produce and/or market them. During April 2017, the Miller and Miller Genuine Draft (MGD) brands were incorporated with a licensing contract to produce and market them. As of February 2019, our locally produced beer brand Andina was launched. During July 2019, we begun the local production of the beer brand Tecate and we launched Natu Malta (alcohol-free product based on malt). Furthermore, since October 2019, Colombia started to import and market the craft beer brand Kunstmann. Finally, at the end of 2019, CCC started the local production of Heineken beer. In Bolivia, as of May 2014, CCU participates in the non-alcoholic and alcoholic beverages business through its subsidiary Bebidas Bolivianas BBO S.A. (BBO). Within the portfolio of non-alcoholic beverages, BBO has the Mendocina, Free cola, Sinalco, Real, and Natur-all brands. These brands include our own and licensed brands. On the other hand, the alcoholic beverages include Real, Capital, and Cordillera brands. Aditionally, BBO markets the imported craft beer Kunstmann and Heineken brands. The described licenses are detailed as follows:
Main brands under license
Licenses | Validity Date
Aberlour, Absolut, Ballantine's, Beefeater, Blender´s Pride, Borzoi, Chivas Reagal, Cuvee MUMM, Dubonnet, Elyx, G.H. MUMM, Havana Club, Jameson, Kahlúa, Level, Long John, Longmorn, Malibu, Martell, Olmeca, Orloff, Passport, Pernod, Perrier Jouet, Ricard, Royale Salute, Sandeman, Scapa, Strathisla, The Glenlivet, Wyborowa, 100 Pipers, in Chile (1) | June 2027
Adrenaline, Adrenaline Rush (9) | February 2028
Amstel in Argentina (2) | July 2022
Amstel in Paraguay (1) | September 2024
Austral in Chile (4) | July 2022
Blue Moon in Chile (5) | December 2021
Coors in Chile (6) | December 2025
Crush, Canada Dry (Ginger Ale, Agua Tónica and Limón Soda) in Chile (7) | December 2023
Frugo in Chile | Indefinitely
Gatorade in Chile (8) | December 2043
Grolsch in Argentina | May 2028
Heineken in Bolivia (9) | December 2024
Heineken in Chile, Argentina and Uruguay (10) | 10 years renewables
Heineken in Colombia (11) | March 2028
Heineken in Paraguay (1) | May 2023
Kunstmann in Colombia (1) | July 2022
Mas in Uruguay (16) | December 2028
Miller in Argentina (11) | December 2026
Miller and Miller Genuine Draft in Colombia (14) | December 2026
Nestlé Pure Life in Chile (7) | December 2022
Patagonia in Chile | Indefinitely
Paulaner in Paraguay | April 2022
Pepsi, Seven Up and Mirinda in Chile | December 2043
Polar Imperial in Chile | Indefinitely
Red Bull in Chile (12) | Indefinitely
Schneider in Paraguay | May 2023
Sol in Chile and Argentina (10) | 10 years renewables
Sol in Colombia (3) | March 2028
Sol in Paraguay | January 2023
Té Lipton in Chile | December 2030
Tecate in Colombia (3) | March 2028
Warsteiner in Argentina (15) | May 2028
Watt´s in Uruguay | 99 years
Watt's (nectars, fruit-based drinks and other) rigid packaging, except carton in Chile | Indefinitely
Watt's in Paraguay (13) | July 2026
(1) Renewable for successive periods of 3 years. (2) After the initial termination date, license is automatically renewed under the same conditions (Rolling Contract), each year for a period of 10 years, unless notice of non-renewal is given. (3) The contract will remain in effect as long as the Heineken license agreeemente for Colombia remains in force. (4) Renewable for periods of two years, subject to the compliance of the contract conditions (5) If Renewal criteria have benn satisfied, renewable through December, 2025, thereafter shall automatically renew every year for a new term of 5 years (Rolling Contract). (6) After the initial termination date, license is automatically renewed under the same conditions (Rolling Contract), each year for a period of 5 years, subject to the compliance of the contract conditions. (7) License renewable for periods of 5 years, subject to the compliance of the contract conditions. (8) License was renewed for a period equal to the duration of the Shareholders Agreement of Bebidas CCU-PepsiCo SpA. (9) License for 10 years, automatically renewable for periods of 5 years, unless notice of non-renewal. (10) License for 10 years, automatically renewable on the same terms (Rolling Contract), each year for a period of 10 years, unless notice of non-renewal is given. (11) After the initial termination date, License is automatically renewable each year for a period of 5 years (Rolling Contract), unless notice of non-renewal is given. (12) Indefinite contract, notice of termination 6 months in advance. (13) Sub-license is renewed automatically and successively for two periods of 5 years each, subject to the terms and conditions stipulated in the International Sub-license agreement of December 28, 2018 between Promarca Internacional Paraguay S.R.L. and Bebidas del Paraguay S.A. (14) License renewable for one period of 5 years, subject to the compliance of the contract conditions. (15) Prior to the expiration of the term, the parties will negotiate its renewal for another 5 years. (16) Renewable contract for successive periods of 10 years. C) Early termination Budweiser license The general aspects of the transaction are described below: a) Description of the Transaction. According to the Material Event reported on September 6, 2017, the CMF was informed that CCU and Compañía Cervecerías Unidas Argentina S.A. (CCU-A), entity organized under the laws of the Republic of Argentina and a subsidiary of CCU, have agreed with Anheuser-Busch InBev S.A./N.V. (ABI and together with CCU-A the "Parties"), an offer letter ("Term Sheet") which, among other matters, contemplates the early termination of license agreement in Argentina for the brand "Budweiser", signed between CCU-A and Anheuser-Busch, Incorporated (today Anheuser-Busch LLC, a subsidiary of ABI) dated March 26, 2008 (the "License Agreement"). As agreed to in the Early Termination of the License Agreement (the “Transaction”), ABI directly or its subsidiaries (hereinafter together referred to as the “ABI Group”), pays to CCU-A the amount of US$ 306,000,000. The Transaction also includes the transfer from ABI to CCU-A of: (a) ownership of the brands Isenbeck and Diosa. This does not include the production plant owned by Cervecería Argentina S.A. Isenbeck (CASA Isenbeck) located in Zárate, province of Buenos Aires, Argentina (which will continue to operate under the ownership of ABI Group), nor the contracts with its employees and/or distributors, nor the transfer of any liabilities of CASA Isenbeck; (b) the ownership of the following registered brands in Argentina: Norte, Iguana and Báltica; and (c) the obligation of ABI to make its reasonable best efforts to cause that certain international premium beer brands are licensed to CCU-A (together with the brands identified in letter (b) above and with the brand Diosa referred to as the "Group of Brands") in Argentine territory. In order to establish a smooth transition of the brands that are transferred by virtue of the Transaction, the Parties will enter into the following contracts (all together with the Early Termination referred to as the “Transaction”): I. Contract by virtue of which CCU-A will produce for the ABI Group part or all of the volume of the beer Budweiser, for a period of up to one year; II. Contract by virtue of which the ABI Group will produce for CCU-A part or all of the volume of the beer Isenbeck and Diosa for a period of up to one year; III. Contract by virtue of which the ABI Group will produce and distribute the Group of Brands, on behalf of CCU-A, for a period of maximum three years; and IV. Other agreements, documents and/or contracts that the Parties deem necessary for the Transaction (the “Transaction Documents”). In summary, this agreement with ABI consists of the early termination of the license agreement of the Budweiser brand in exchange for a portfolio of brands representing similar volumes, plus different payments of up to US$ 400,000,000 before taxes, over a period of up to three years. b) Status of the Transaction: On March 14, 2018, CCU reported as a Material Event that CCU-A had been notified of the resolution of the Secretario de Comercio del Ministerio de Producción de la Argentina (SECOM), which, based on the favorable opinion of the Comisión Nacional de Defensa de la Competencia (CNDC), approved the Transaction. The resolution established that the Parties must submit to the CNDC, for review and approval, drafts of contracts that contained all of the terms and conditions of the Transaction (the "Contracts"). On March 16, 2018, the Parties filed the Contracts with the CNDC. On April 27, 2018, CCU-A was notified of the resolution of the CNDC that approved the Contracts, thus fulfilling the condition established in the Term Sheet, becoming binding and therefore, the parties were legally obliged to close the Transaction. The signature of the respective contracts took place on May 2, 2018. As a consequence of the closing of the Transaction: b.1) CCU-A early terminated the license agreement with ABI in Argentina for the brand “Budweiser”. b.2) CCU-A received a payment from ABI of US$ 306,000,000, equivalents to ThCh$ 185,648,399 before taxes (See Note 31 – Other income by function ). b.3) ABI transferred to CCU-A (i) the ownership of the Isenbeck and Diosa brands and certain assets related to said brands (not including the production plant owned by Cervecería Argentina S.A. Isenbeck, nor the contracts with its employees and/or distributors, nor the transfer of any liabilities of said entity); and (ii) ownership of the following registered trademarks in Argentina: Norte, Iguana and Báltica. The five brands mentioned above were valued at US$ 44,044,000, equivalents to ThCh$ 26,721,236 (See Note 17 – Intangible assets other than goodwill and Note 31 – Other income by function ). As of December 31, 2018, the net effect of the aforementioned compensations generated in the consolidated results of Compañía Cervecerías Unidas S.A. and subsidiaries a Net income attributable to the equity holders of the parent of ThCh$ 157,358,973 shown in (See Note 6 – Financial information as per operating segments ). b.4) CCU-A was granted the licenses of the Warsteiner and Grolsch brands for the Argentine territory (these brands, together with Isenbeck, Diosa, Norte, Iguana and Báltica, the “Brands”); b.5) CCU-A received an ABI payment of US$ 10,000,000, equivalents to ThCh$ 6,109,800, before taxes, for the production of Budweiser of one year, which will be reflected in results under Other income by function as performance obligations are met, for which US$ 3,548,372 for the year ended December 31, 2019 and US$ 6,451,628 for the year ended December 31, 2018 equivalents to ThCh$ 2,581,452 in 2019 and ThCh$ 4,840,167 in 2018 were reflected in results under Other income by function; and b.6) CCU-A will receive from ABI annual payments of up to US$ 28,000,000, equivalents to ThCh$ 17,107,440, before taxes, for a period of up to three years, depending on the volume and the timing of the transition to CCU-A of the production and/or commercialization of the Brands, which will be reflected in the results, under Net sales, Other incomes, Cost of sales and MSD&A, as the performance obligations are met, of which for the year ended December 31, 2020 the Company recognized in results an amount of US$ 18,459,185 (US$ 21,372,012 for the year ended December 31, 2019 and US$ 19,802,868 for the year ended December 31, 2018) equivalents to ThCh$ 13,123,558 (ThCh$ 16,002,081 in 2019 and ThCh$ 14,251,811 in 2018). This transaction did not result in impairment of the productive assets of the Company.
D) Direct and indirect significant subsidiaries The consolidated financial statements include the following direct and indirect subsidiaries where the percentage of participation represents the economic interest at a consolidated level:
Subsidiary | Tax ID | Country of origin | Functional currency | Share percentage direct and indirect
As of December 31, 2020 | As of December 31, 2019
Direct % | Indirect % | Total % | Total %
Aguas CCU-Nestlé Chile S.A. | 76,007,212-5 | Chile | Chilean Pesos | - | 50.0917 | 50.0917 | 50.0917
Cervecera Guayacán SpA. (***) (5) | 76,035,409-0 | Chile | Chilean Pesos | - | 25.0006 | 25.0006 | 25.0006
CRECCU S.A. | 76,041,227-9 | Chile | Chilean Pesos | 99.9602 | 0.0398 | 100.0000 | 100.0000
Cervecería Belga de la Patagonia S.A. (***) | 76,077,848-6 | Chile | Chilean Pesos | - | 25.5034 | 25.5034 | 25.5034
Inversiones Invex CCU Dos Ltda. | 76,126,311-0 | Chile | Chilean Pesos | 99.8516 | 0.1484 | 100.0000 | 100.0000
Inversiones Invex CCU Tres Ltda. (19) | 76,248,389-0 | Chile | Chilean Pesos | 99.9999 | 0.0001 | 100.0000 | 100.0000
Bebidas CCU-PepsiCo SpA. (***) | 76,337,371-1 | Chile | Chilean Pesos | - | 49.9888 | 49.9888 | 49.9888
CCU Inversiones II Ltda. (8) | 76,349,531-0 | Chile | US Dollar | 99.7811 | 0.2189 | 100.0000 | 100.0000
Cervecería Szot SpA. (***) (13) | 76,481,675-7 | Chile | Chilean Pesos | - | 25.0006 | 25.0006 | 25.0009
Bebidas Carozzi CCU SpA. (***) | 76,497,609-6 | Chile | Chilean Pesos | - | 49.9917 | 49.9917 | 49.9917
Bebidas Ecusa SpA. | 76,517,798-7 | Chile | Chilean Pesos | - | 99.9834 | 99.9834 | 99.9834
Inversiones Invex CCU Ltda. (18) | 76,572,360-4 | Chile | US Dollar | 8.3747 | 91.6175 | 99.9922 | 99.9920
Promarca Internacional SpA. (***) | 76,574,762-7 | Chile | US Dollar | - | 49.9917 | 49.9917 | 49.9917
CCU Inversiones S.A. (3) | 76,593,550-4 | Chile | Chilean Pesos | 99.0242 | 0.7533 | 99.7775 | 99.7775
Inversiones Internacionales SpA. | 76,688,727-9 | Chile | US Dollar | - | 80.0000 | 80.0000 | 80.0000
Promarca S.A. (***) | 76,736,010-K | Chile | Chilean Pesos | - | 49.9917 | 49.9917 | 49.9917
CCU Inversiones III SpA. (6) | 76,933,685-0 | Chile | US Dollar | - | 99.9950 | 99.9950 | 99.9950
Transportes CCU Ltda. | 79,862,750-3 | Chile | Chilean Pesos | 98.0000 | 2.0000 | 100.0000 | 100.0000
Fábrica de Envases Plásticos S.A. (12) | 86,150,200-7 | Chile | Chilean Pesos | 95.8904 | 4.1080 | 99.9984 | 99.9984
Millahue S.A. | 91,022,000-4 | Chile | Chilean Pesos | 99.9621 | - | 99.9621 | 99.9621
Viña San Pedro Tarapacá S.A. (*) (3) | 91,041,000-8 | Chile | Chilean Pesos | - | 82.9870 | 82.9870 | 82.9870
Manantial S.A. (17) | 96,711,590-8 | Chile | Chilean Pesos | - | 50.5519 | 50.5519 | 50.5507
Viña Altaïr SpA. | 96,969,180-9 | Chile | Chilean Pesos | - | 82.9870 | 82.9870 | 82.9870
Cervecería Kunstmann S.A. | 96,981,310-6 | Chile | Chilean Pesos | 50.0007 | - | 50.0007 | 50.0007
Cervecera CCU Chile Ltda. | 96,989,120-4 | Chile | Chilean Pesos | 99.7500 | 0.2499 | 99.9999 | 99.9999
Embotelladoras Chilenas Unidas S.A. (10) | 99,501,760-1 | Chile | Chilean Pesos | 98.8000 | 1.1834 | 99.9834 | 99.9834
Comercial CCU S.A. | 99,554,560-8 | Chile | Chilean Pesos | 50.0000 | 49.9888 | 99.9888 | 99.9888
Compañía Pisquera de Chile S.A. | 99,586,280-8 | Chile | Chilean Pesos | 46.0000 | 34.0000 | 80.0000 | 80.0000
La Barra S.A. (15) | 77,148,606-1 | Chile | Chilean Pesos | 99.0000 | 1.0000 | 100.0000 | -
Mahina SpA. (***) (14) | 77,248,551-4 | Chile | Chilean Pesos | - | 25.0458 | 25.0458 | -
Andina de Desarrollo SACFAIMM | 0-E | Argentina | Argentine Pesos | - | 59.1971 | 59.1971 | 59.1971
Bodega San Juan S.A.U. (9) | 0-E | Argentina | Argentine Pesos | - | 82.9870 | 82.9870 | 82.9870
Cía. Cervecerías Unidas Argentina S.A. (2) | 0-E | Argentina | Argentine Pesos | - | 99.9936 | 99.9936 | 99.9936
Compañía Industrial Cervecera S.A. | 0-E | Argentina | Argentine Pesos | - | 99.9950 | 99.9950 | 99.9950
Finca La Celia S.A. (9) | 0-E | Argentina | Argentine Pesos | - | 82.9870 | 82.9870 | 82.9870
Los Huemules S.R.L. | 0-E | Argentina | Argentine Pesos | - | 74.9979 | 74.9979 | 74.9979
Sáenz Briones y Cía. S.A.I.C. | 0-E | Argentina | Argentine Pesos | - | 89.9150 | 89.9150 | 89.9150
Bebidas Bolivianas BBO S.A. (4) | 0-E | Bolivia | Bolivians | - | 51.0000 | 51.0000 | 51.0000
International Spirits Investments USA LLC | 0-E | United States | US Dollar | - | 80.0000 | 80.0000 | 80.0000
Inversiones CCU Lux S.à r.l. (7) | 0-E | Luxemburg | US Dollar | - | 99.9999 | 99.9999 | 99.9999
Southern Breweries S.C.S. (1) | 0-E | Luxemburg | US Dollar | 38.7810 | 61.2141 | 99.9951 | 99.9951
Bebidas del Paraguay S.A. (**) (16) | 0-E | Paraguay | Paraguayan Guaranies | - | 50.0049 | 50.0049 | 50.0049
Distribuidora del Paraguay S.A. (**) (16) | 0-E | Paraguay | Paraguayan Guaranies | - | 49.9589 | 49.9589 | 49.9589
Promarca Internacional Paraguay S.R.L. (***) | 0-E | Paraguay | Paraguayan Guaranies | - | 49.9917 | 49.9917 | 49.9917
Sajonia Brewing Company S.R.L. (***) (16) | 0-E | Paraguay | Paraguayan Guaranies | - | 49.5049 | 49.5049 | 25.5025
Andrimar S.A. | 0-E | Uruguay | Uruguayan Pesos | - | 99.9999 | 99.9999 | 99.9999
Coralina S.A. | 0-E | Uruguay | Uruguayan Pesos | - | 99.9999 | 99.9999 | 99.9999
Marzurel S.A. | 0-E | Uruguay | Uruguayan Pesos | - | 99.9999 | 99.9999 | 99.9999
Milotur S.A. (11) | 0-E | Uruguay | Uruguayan Pesos | - | 99.9999 | 99.9999 | 99.9999
(*) Listed company in Chile. (**) See Note 1 – General Information, letter D) , Subsidiaries with direct or indirect participation of less than 50% (***) Subsidiaries in which we have an interest of more or equal than 50% through one or more subsidiaries of the Company. In addition to what is shown in the preceding table, the following are the percentages of participation with voting rights, in each of the subsidiaries. Each shareholder has one vote per share owned or represented. The percentage of participation with voting rights represents the sum of the direct participation and indirect participation through a subsidiary.
Subsidiary | Tax ID | Country of origin | Functional currency | Share percentage with voting rights
As of December 31, 2020 | As of December 31, 2019
% | %
Aguas CCU-Nestlé Chile S.A. | 76,007,212-5 | Chile | Chilean Pesos | 50.0917 | 50.0917
Cervecera Guayacán SpA. (***) (5) | 76,035,409-0 | Chile | Chilean Pesos | 25.0006 | 25.0006
CRECCU S.A. | 76,041,227-9 | Chile | Chilean Pesos | 100.0000 | 100.0000
Cervecería Belga de la Patagonia S.A. (***) | 76,077,848-6 | Chile | Chilean Pesos | 25.5034 | 25.5034
Inversiones Invex CCU Dos Ltda. | 76,126,311-0 | Chile | Chilean Pesos | 100.0000 | 100.0000
Inversiones Invex CCU Tres Ltda. (19) | 76,248,389-0 | Chile | Chilean Pesos | 100.0000 | 100.0000
Bebidas CCU-PepsiCo SpA. (***) | 76,337,371-1 | Chile | Chilean Pesos | 49.9888 | 49.9888
CCU Inversiones II Ltda. (8) | 76,349,531-0 | Chile | US Dollar | 100.0000 | 100.0000
Cervecería Szot SpA. (***) (13) | 76,481,675-7 | Chile | Chilean Pesos | 25.0006 | 25.0009
Bebidas Carozzi CCU SpA. (***) | 76,497,609-6 | Chile | Chilean Pesos | 49.9917 | 49.9917
Bebidas Ecusa SpA. | 76,517,798-7 | Chile | Chilean Pesos | 99.9834 | 99.9834
Inversiones Invex CCU Ltda. (18) | 76,572,360-4 | Chile | US Dollar | 99.9922 | 99.9920
Promarca Internacional SpA. (***) | 76,574,762-7 | Chile | US Dollar | 49.9917 | 49.9917
CCU Inversiones S.A. (3) | 76,593,550-4 | Chile | Chilean Pesos | 99.7775 | 99.7775
Inversiones Internacionales SpA. | 76,688,727-9 | Chile | US Dollar | 80.0000 | 80.0000
Promarca S.A. (***) | 76,736,010-K | Chile | Chilean Pesos | 49.9917 | 49.9917
CCU Inversiones III SpA. (6) | 76,933,685-0 | Chile | US Dollar | 100.0000 | 100.0000
Transportes CCU Ltda. | 79,862,750-3 | Chile | Chilean Pesos | 100.0000 | 100.0000
Fábrica de Envases Plásticos S.A. (12) | 86,150,200-7 | Chile | Chilean Pesos | 100.0000 | 100.0000
Millahue S.A. | 91,022,000-4 | Chile | Chilean Pesos | 99.9621 | 99.9621
Viña San Pedro Tarapacá S.A. (*) (3) | 91,041,000-8 | Chile | Chilean Pesos | 82.9870 | 82.9870
Manantial S.A. (17) | 96,711,590-8 | Chile | Chilean Pesos | 50.5519 | 50.5507
Viña Altaïr SpA. | 96,969,180-9 | Chile | Chilean Pesos | 82.9870 | 82.9870
Cervecería Kunstmann S.A. | 96,981,310-6 | Chile | Chilean Pesos | 50.0007 | 50.0007
Cervecera CCU Chile Ltda. | 96,989,120-4 | Chile | Chilean Pesos | 100.0000 | 100.0000
Embotelladoras Chilenas Unidas S.A. (10) | 99,501,760-1 | Chile | Chilean Pesos | 99.9834 | 99.9834
Comercial CCU S.A. | 99,554,560-8 | Chile | Chilean Pesos | 100.0000 | 100.0000
Compañía Pisquera de Chile S.A. | 99,586,280-8 | Chile | Chilean Pesos | 80.0000 | 80.0000
La Barra S.A. (15) | 77,148,606-1 | Chile | Chilean Pesos | 100.0000 | -
Mahina SpA. (***) (14) | 77,248,551-4 | Chile | Chilean Pesos | 25.0458 | -
Andina de Desarrollo SACFAIMM | 0-E | Argentina | Argentine Pesos | 100.0000 | 100.0000
Bodega San Juan S.A.U. (9) | 0-E | Argentina | Argentine Pesos | 82.9870 | 82.9870
Cía. Cervecerías Unidas Argentina S.A. (2) | 0-E | Argentina | Argentine Pesos | 100.0000 | 100.0000
Compañía Industrial Cervecera S.A. | 0-E | Argentina | Argentine Pesos | 100.0000 | 100.0000
Finca La Celia S.A. (9) | 0-E | Argentina | Argentine Pesos | 82.9870 | 82.9870
Los Huemules S.R.L. | 0-E | Argentina | Argentine Pesos | 74.9979 | 74.9979
Sáenz Briones y Cía. S.A.I.C. | 0-E | Argentina | Argentine Pesos | 100.0000 | 100.0000
Bebidas Bolivianas BBO S.A. (4) | 0-E | Bolivia | Bolivians | 51.0000 | 51.0000
International Spirits Investments USA LLC | 0-E | United States | US Dollar | 80.0000 | 80.0000
Inversiones CCU Lux S.à r.l. (7) | 0-E | Luxemburg | US Dollar | 99.9999 | 99.9999
Southern Breweries S.C.S. (1) | 0-E | Luxemburg | US Dollar | 100.0000 | 100.0000
Bebidas del Paraguay S.A. (**) (16) | 0-E | Paraguay | Paraguayan Guaranies | 50.0049 | 50.0049
Distribuidora del Paraguay S.A. (**) (16) | 0-E | Paraguay | Paraguayan Guaranies | 49.9589 | 49.9589
Promarca Internacional Paraguay S.R.L. (***) | 0-E | Paraguay | Paraguayan Guaranies | 49.9917 | 49.9917
Sajonia Brewing Company S.R.L. (***) (16) | 0-E | Paraguay | Paraguayan Guaranies | 49.5049 | 25.5025
Andrimar S.A. | 0-E | Uruguay | Uruguayan Pesos | 99.9999 | 99.9999
Coralina S.A. | 0-E | Uruguay | Uruguayan Pesos | 99.9999 | 99.9999
Marzurel S.A. | 0-E | Uruguay | Uruguayan Pesos | 99.9999 | 99.9999
Milotur S.A. (11) | 0-E | Uruguay | Uruguayan Pesos | 99.9999 | 99.9999
(*) Listed company in Chile. (**) See Note 1 – General Information, letter D) , Subsidiaries with direct or indirect participation of less than 50% (***) Subsidiaries in which we have an interest of more or equal than 50% through one or more subsidiaries of the Company. The main movements in the ownership of the subsidiaries included in these consolidated financial statements are the following: (1) Southern Breweries S.C.S. (SB SCS) (former Southern Breweries Limited) On December 7, 2018, Southern Breweries Limited (Subsidiary of CCU) was re-domiciled from Cayman Islands to Luxembourg and changed its name to Southern Breweries S.á.r.l., later and once the subsidiary was stablished in Luxembourg it was converted from S.á.r.l. to S.C.S. Finally, the Company sold one share of SB SCS to the subsidiary Inversiones CCU Lux S.á r.l. by an amount of US$ 2,600 (Equivalent to ThCh$ 1,806). (2) Compañía Cervecerías Unidas Argentina S.A. As a result of the early termination of Budweiser license, as described in Note 1 – General information, letter C) , and based on the Audited Financial Statements as of and for the year ended on April 30, 2018 of the subsidiary Compañía Cervecerías Unidas Argentina S.A., on June 5, 2018, held the Ordinary and Extraordinary General Assembly of such subsidiary, agreed the distribution of dividends for a total amount of ARS 5,141,760,000 (equivalent to ThCh$ 129,858,280), according with the stock rights of their shareholders, which are domiciled in Chile, distributed to Inversiones Invex CCU Limitada the amount of ARS 4,146,778,022.40 (equivalent to ThCh$ 104,729,404 (80.65 %)) and Inversiones Invex CCU Dos Limitada the amount of ARS 994,981,977.60 (equivalent to ThCh$ 25,128,876 (19.35%)). According to the above mentioned, the distribution of dividends to the Chilean shareholders, is based on the realized result to April 30, 2018 of the subsidiary Compañía Cervecerías Unidas Argentina S.A. (3) CCU Inversiones S.A., Viña San Pedro Tarapacá S.A. (VSPT) and Viña Valles de Chile S.A. (VVCH) On January 29, 2018, the outcome notice of the tender offer was published, as result CCU Inversiones S.A. acquired an additional 15.79% of VSPT for the amount of ThCh$ 49,222,782, equivalent to 6,310,613,119 shares, thus resulting in an 83.01% stake in VSPT. On January 29, 2018, the Company acquired an additional 0.18% of subsidiary CCU Inversiones S.A. for an amount of ThCh$ 49,400,000, equivalent to 934,774,763 shares, thus resulting in a 99.02% stake in this subsidiary. On July 31, 2018, subsidiary Viña Orgánica SPT S.A. merged with Viña San Pedro Tarapacá S.A., which became the legal continuer and beginning from August 1, 2018 . The transactions mentioned above had no significant effects on the results of the Company. Viñas Valles de Chile S.A. (VVCH) dissolved and merged into VSPT, being the latter the surviving entity, as the result of VSPT becoming, pursuant to a share purchase agreement executed on May 21, 2019 between Viña Altaïr SpA. and VSPT, the sole owner, in a period that exceeded 10 days, of all of the shares of VVCH. This merger had legal and accounting effects as of June 1, 2019. VVCH Board of Directors´ Resolution evidencing the dissolution of VVCH was executed as public deed on June 4, 2019, and further registered in the Register of Commerce and published in the Official Gazette. (4) Bebidas Bolivianas BBO S.A. (BBO) On May 7, 2014, the Company acquired 34% of the stock rights of Bebidas Bolivianas BBO S.A. (BBO) a Bolivian and a closed stock company that produces soft drinks and beers in three plants located in Santa Cruz de la Sierra and Nuestra Señora de la Paz cities. Subsequently, on August 9, 2018, the Company acquired an additional the 17% of the shares of BBO for an amount of US$ 8,500,000, equivalents to ThCh$ 5,457,935, thus resulting in a 51% stake in BBO (see Note 15 – Business combinations ). The Company has determined the fair values of assets and liabilities for this business combination as follows:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | 3,942,346
Total non-current assets | 23,915,061
Total Assets | 27,857,407
Total current liabilities | 5,393,779
Total non-current liabilities | 9,181,670
Total liabilities | 14,575,449
Net identifiable assets acquired | 13,281,958
Non-controlling interests | (6,508,159)
Goodwill | 10,480,792
Investment value | 17,254,591
As a result of the previously mentioned fair values intangibles and goodwill have been generated. On September 20, 2018, the Company paid committed capital of US$ 1,530,029 (equivalent to ThCh$ 1,044,688) in BBO, since both partners concurred with the same capital contributions, the percentages of participation were maintained. On June 28 and July 11, 2019 the subsidiary CCU Inversiones II Ltda. made capital contributions to Bebidas Bolivianas BBO S.A. for an amount of US$ 1,249,713 and US$ 178,305 (equivalent to ThCh$ 849,630 and ThCh$ 122,210), respectively, since both partners concurred with the same contributions, the participation percentages were maintained. (5) Cervecera Guayacán SpA. On August 31, 2018, the subsidiary Cervecería Kunstmann S.A. (CK) acquired an additional 30.0004% of the stock rights of Cervecera Guayacán SpA. for an amount of ThCh$ 361,560, equivalent to 39,232 shares and the subscription and payment of ThCh$ 470,711, equivalent to 49,038 shares. As a consequence above mentioned CK has the 50.0004% stake in Cervecera Guayacán SpA. (see Note 15 – Business combinations ). The Company has determined the fair values of assets and liabilities for this business combination as follows:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | 507,149
Total non-current assets | 1,355,220
Total Assets | 1,862,369
Total current liabilities | 238,265
Total non-current liabilities | 306,828
Total liabilities | 545,093
Net identifiable assets | 1,317,276
Non-controlling interests | (658,633)
Goodwill | 456,007
Investment value | 1,114,650
As a result of the previously mentioned fair values intangibles and goodwill have been generated. (6) CCU Inversiones III SpA. On September 13, 2018, the subsidiary Southern Breweries S.C.S. (ex Southern Breweries Limited) incorporated the company CCU Inversiones III SpA. in Chile, whose purpose will be to make all kinds of investments, in any type of goods, foreign currency, financial instruments and commercial paper, including shares or social rights in companies incorporated in Chile or abroad, among others. (7) Inversiones CCU Lux S.á r.l. On November 13, 2018, the subsidiary Inversiones CCU Lux S.á r.l. was created in Luxembourg, where the subsidiary CCU Inversiones II Ltda. made the total stock payment of Euros 12,000 (12,000 shares), equivalent to ThCh$ 9,252. (8) CCU Inversiones II Limitada On December 17, 2018, the Company made a capital contribution to the subsidiary CCU Inversiones II Ltda., through the shareholding contribution of the Bolivian subsidiary, Bebidas Bolivianas BBO S.A. for an amount of US$ 40,294,696, equivalents to ThCh$ 27,659,891. On May 27 and June 12, 2019, the Company made capital contributions to the subsidiary CCU Inversiones II Ltda. for an amount of US$ 3,200,000 (equivalent to ThCh$ 2,223,488) and US$ 1,428,017 (equivalent to ThCh$ 990,473). On September 6, 2019, the Company made a capital contribution to the subsidiary CCU Inversiones II Ltda. for an amount of US$ 10,000,000 (equivalent to ThCh$ 7,233,000). On January 31 and April 15, 2020, the Company made capital contributions to the subsidiary CCU Inversiones II Ltda. for an amount of US$ 11,500,000 (equivalent to ThCh$ 9,176,540) and US$ 16,500,000 (equivalent to ThCh$ 14,002,395) respectively. On September 4, 2020, the Company made a capital contribution to the subsidiary CCU Inversiones II Ltda. for an amount of US$ 12,200,000 (equivalent to ThCh$ 9,411,690). (9) Finca La Celia S.A. and Bodega San Juan S.A.U. On January 28, 2019, Bodega San Juan S.A.U. was established in Argentina, where the subsidiary Finca La Celia S.A. made a capital contribution of ARS 100,000 (100,000 ordinary, non-endorsable nominal shares). On March 1, 2019, the subsidiary VSPT made a capital increase at the subsidiary Finca La Celia S.A. for US$ 7,000,000 through the issuance of 265,300.00 ordinary, non-endorsable shares. On May 31, 2019, the subsidiary VSPT made a capital increase at the subsidiary Finca La Celia S.A. for US$ 14,000,000 through the issuance of 607,600,000 non-endorsable nominal shares. On December 21, 2020, the boards of Finca La Celia S.A. and Bodega San Juan S.A.U. approved to carry out a merger process of both companies, in which the first one will be the legal continuer, the second one will be dissolved without liquidation, with effect from January 1, 2021. In order to the merge could be materialized, all the formal requirements and stages established by Argentine regulations must be met and it must be approved in the last instance by the General Inspection of Justice of the City of Buenos Aires, Argentina. The Management estimates that this process will not generate significant effects on its Financial Statements.
Graffina Business In December 2018, the subsidiary VSPT signed an agreement to acquire a part of the Pernod Ricard wine business in Argentina. The purchase agreement, subject to local regulatory approval, included the Argentine wine brands Graffigna, Colón and Santa Silvia, which represent approximately 1.5 million boxes of 9-liter wine bottles per year. Bodegas Graffigna has a winery in the province of San Juan, two fields in the same province, and a field in Mendoza. On January 28, 2019, the Argentine subsidiary Finca La Celia S.A. constituted the Bodega San Juan S.A.U. through a capital contribution of ARS 100,000, in order to use it as a vehicle for the acquisition of the Graffigna, Colón and Santa Silvia wine business of Pernod Ricard Argentina S.R.L., in addition to the purchase of Bodega Graffigna and Pocito vineyards, Cañada Honda and La Consulta. On May 31, 2019, the subsidiary VSPT made a capital contribution to the subsidiary Finca La Celia S.A. by US$ 14,000,000, equivalent to ThCh$ 9,910,040 and on the same date, Finca La Celia S.A. made a capital contribution to Bodega San Juan S.A.U. for US$ 2,806,820, equivalent to ThCh$ 1,986,836. On May 31, 2019, Bodega San Juan S.A.U. through a deed of sale became the owner of the businesses of Pocito and Cañada Honda vineyards. The Company has determined the fair values of assets and liabilities related to this business combination mainly for domestic market as follows:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | 4,470,464
Total non-current assets | 8,783,049
Total Assets | 13,253,513
Total current liabilities | 370,326
Total non-current liabilities | 1,200,124
Total liabilities | 1,570,450
Identificable Net Assets Acquired / Investment value | 11,683,063
Bargain purchase gain on December 31, 2019 (*) | (3,043,107)
Investment value | 8,639,956
On June 1, 2020, the Argentine subsidiary Finca La Celia S.A. became the owner of the operation of La Consulta vineyard, located in the Eugenio Bustos district, San Carlos department in the province of Mendoza by a deed of sale and after having obtained regulatory approvals in Argentina. The Company has determined the provisional fair values of assets and liabilities related to this business combination, mainly for export market, as follows:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | -
Total non-current assets | 2,730,067
Total Assets | 2,730,067
Total current liabilities | -
Total non-current liabilities | 549,697
Total liabilities | 549,697
Identificable Net Assets Acquired / Investment value | 2,180,370
Bargain purchase gain on December 31, 2020 (*) | (1,677,294)
Investment value | 503,076
(*) See Note 32 - Other gain (losses) ( 10 ) Embotelladoras Chilenas Unidas S.A., New Ecusa S.A. and Vending y Servicios CCU Ltda. On April 1, 2019, the subsidiary New Ecusa S.A. was merged into Embotelladoras Chilenas United S.A., the latter becoming its legal successor. The transaction mentioned above had no significant effect on the Company's results. On June 1, 2019, the subsidiary Vending y Servicios CCU Ltda. merged into Embotelladoras Chilenas Unidas S.A., the latter becoming its legal successor. The aforementioned had no significant effects on the Company's results. ( 11 ) Milotur S.A. On May 27, 2019, the subsidiary CCU Inversiones II Ltda. made a capital contribution to Milotur S.A. for an amount of US$ 3,200,000 (equivalent to ThCh$ 2,223,488), maintaining its participation percentage. On August 21, 2020, the subsidiary CCU Inversiones II Ltda. made a capital contribution to Milotur S.A. for an amount of US$ 4,000,000 (equivalent to ThCh$ 3,143,360), maintaining its participation percentage. ( 12 ) Fábrica de Envases Plásticos S.A. (Plasco) According to Plasco's extraordinary shareholders meeting dated May 31, 2019, a capital increase of ThCh$ 10,000,000 was agreed upon with the issuance of 16,000,000 shares at a price of ThCh$ 625 per share. Likewise, it is stipulated in said meeting that the shareholder Millahue S.A. will not concur with this increase. For this reason, 100% of the increase will be made by CCU S.A. This increase was materialized on June 25, 2019. On November 2, 2020 as a Material Event, CCU informed to the Financial Market Commission that its subsidiary Fábrica de Envases Plásticos S.A. executed a memorandum of understanding with Envases CMF S.A, which establishes the preliminary terms and conditions of an investment agreement and a shareholders' agreement to be signed between both companies, regarding the design, construction, and operation of a facility capable of processing (recycling) Polyethylene Terephthalate (PET), through a new company to be organized in Chile, owned in equal parts (50/50) by the parties. The closing of the transaction is subject to the fulfillment of certain suspensive conditions, customary for this type of agreement, among which is obtaining the consents of authorities required under applicable legislation. As of today, it is not possible to determine the potential effect of the transaction on CCU´s financial statements and, as a joint venture, CCU will not consolidate the financial results of the company. ( 13 ) Cervecería Szot SpA. On August 30, 2019, the subsidiary Cervecería Kunstmann S.A. (CK) acquired an additional 5.001% of Cervecería Szot SpA. from the purchase of 5,001 shares, equivalent to ThCh$ 6,156. As a result of the aforementioned, CK reached a total participation of 50.0010% on this subsidiary. (See Note 15 – Business combinations ). For this business combination, the fair value of assets and liabilities were determined, which are the following:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | 131,599
Total non-current assets | 451,672
Total Assets | 583,271
Total current liabilities | 158,551
Total non-current liabilities | 90,067
Total liabilities | 248,618
Net identifiable assets acquired | 334,653
Non-controlling interests | (167,323)
Goodwill | 202,470
Investment value | 369,800
As a result of the previously mentioned fair values, intangibles and goodwill have been generated, which are exposed in Note 17 - Intangible assets other than goodwill and Note 18 - Goodwill , respectively. On August 28, 2020, Szot carried out a capital increase equivalent to 95,710 shares. The shareholder CK suscribed 63,022 shares at a value of ThCh$ 176,620. Subsequently, on the same date, CK sold 15,167 to Representaciones Chile Beer Kevin Michael Szot E.I.R.L shares equivalent to ThCh$ 42,506. As a result of the aforementioned, CK ended with a total participation of 50.0005% in this subsidiary. ( 14 ) Mahina SpA. On February 18, 2020, the subsidiary Cervecería Kunstmann S.A. (CK) acquired 50.1000% from the purchase of 501 shares from the company Mahina SpA. at a value of ThCh$ 525,000. Later on the same date, Mahina SpA. carried out a capital increase equivalent to 100 shares, of which CK subscribed 50 shares at a value of ThCh$ 50,000. As a consequence, CK owns 551 shares equivalent to 50.0909%. Aditionally, it was incorporated into the consolidation process of CCU (See Note 15 - Business combinations ). For this business combination, the provisional fair value of assets and liabilities were determined, which are the following:
Assets and Liabilities | Fair Value
ThCh$
Total current assets | 114,510
Total non-current assets | 1,035,490
Total Assets | 1,150,000
Total current liabilities | -
Total non-current liabilities | -
Total liabilities | -
Net identifiable assets acquired | 1,150,000
Non-controlling interests | (573,955)
Bargain purchase gain on December 31, 2020 (*) | (1,045)
Investment value on December 31, 2020 | 575,000
(*) See Note 32 – Other gain (losses) As a consequence of the aforementioned fair values, intangibles have been largely generated, which are disclosed in Note 17 - Intangible Assets other than goodwill . ( 15 ) La Barra S.A. (former ECOMCCU S.A.) On March 20, 2020, the Company and its subsidiary Cervecera CCU Chile Ltda. incorporated the subsidiary ECOMCCU S.A. It is purpose will be marketing and sale of beverages, food products and household items. The capital of the subsidiary amounts to ThCh$ 1,500,000, divided into 1,500,000 shares. On July 22, 2020 the capital was paid. On December 2, 2020 the first Extraordinary Shareholders' Meeting was held, where a change for the name of the subsidiary was agreed and it was renamed as La Barra S.A. ( 16 ) Bebidas del Paraguay S.A., Distribuidora del Paraguay S.A. and Sajonia Brewing Company S.R.L. On May 12, 2020, the subsidiary Bebidas del Paraguay S.A. acquired 27% of the stock rights of the Paraguayan company Sajonia Brewing Company S.R.L., which ended with a 78% stake in this company. The amount paid for this transaction increased to ThCh$ 48,257 (400 million guaranies.) On July 1, 2020, Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A. acquired the non-controlling interest of Sajonia Brewing Company S.R.L. by 21% and 1% respectively, thus reaching 100% of the participation. The amount paid for this transaccion was ThCh$ 33,458 (279 million guaranies). ( 17 ) Manantial S.A. On April 16, 2020, the subsidiary Aguas CCU-Nestlé Chile S.A. (Aguas) made a capital contribution to the subsidiary Manantial S.A. for an amount of ThCh$ 1,500,000 resulting in Aguas with 99.0775% and Embotelladoras Chilenas Unidas S.A. with 0.9225% of the share capital. ( 18 ) Inversiones Invex CCU Ltda. On September 4, 2020, the Company made a capital contribution to the subsidiary Inversiones Invex CCU Ltda. for an amount of ThCh$ 2,500,000. ( 19 ) Inversiones Invex CCU Tres Ltda. On September 4, 2020, the Company made a capital contribution to the subsidiary Inversiones Invex CCU Tres Ltda. for an amount of ThCh$ 800,000. E) Subsidiaries with direct or indirect participation of less than 50% These Consolidated Financial Statements incorporate as a subsidiary to Distribuidora del Paraguay S.A., a company in which we have a total participation of 49.9589%. Bebidas del Paraguay S.A. (BdP) and Distribuidora del Paraguay S.A. (DdP) are considered to be one economic group that shares their operational and financial strategy, leaded by the same management team that seeks compliance with the strategic plan defined simultaneously for both entities. Additionally BdP produces different brands owned by it. DdP is its sole and exclusive customer, which is responsible for the distribution and marketing of BdP’s products. The administrative and commercial integration added to its operational and financial dependence of DdP explain the reason why BdP proceeds to present this entity as a subsidiary of CCU. F) Joint operations: (a) Promarca S.A. Promarca S.A. is a closed stock company whose main activity is the acquisition, development and administration of trademarks and their corresponding licensing to their operators. On December 31, 2020, Promarca S.A. recorded a profit of ThCh$ 4,100,979 ( ThCh$ 4,511,337 in 2019 and ThCh$ 4,581,922 in 2018), which in accordance with the Company’s policies is 100% distributable. (b) Bebidas CCU-Pepsico SpA . (BCP) The line of business of this company is manufacture, produce, process, transform, transport, import, export, purchase, sell and in general market all types of concentrates. On December 31, 2020 , BCP recorded a profit of ThCh$ 3,061,898 (ThCh$ 1,243,574 in 2019 and ThCh$ 1,137,233 in 2018), which in accordance with the Company’s policies is 100% distributable. (c) Bebidas Carozzi CCU SpA . (BCCCU) The purpose of this company is the production, marketing and distribution of instant powder drinks in the national territory. On December 31, 2020 , BCCCU recorded a profit of ThCh$ 2,532,525 (ThCh$ 1,157,424 in 2019 and ThCh$ 1,263,169 in 2018 ), which in accordance with the Company’s policies is 100% distributable. The companies mentioned above, letter a) to c), meet the conditions stipulated in IFRS 11 to be considered "joint operations", since the primary assets in both entities are trademarks, the contractual arrangements establishes that the parties to the joint arrangement share all interests in the assets relating to the arrangement in a specified proportion and their income is 100% from royalties charged to the joint operators for the sale of products using these trademarks.

X
- Definition Disclosure of general information about financial statements. + References No definition available. + Details
Name: | ccu_DisclosureOfGeneralInformationAboutFinancialStatementsAbstract
Namespace Prefix: | ccu_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for general information about financial statements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 51 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_51&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration