Compañía Cervecerías Unidas (CCU) is a multi-category beverage company headquartered in Santiago, Chile, with operations across six Latin American countries. Beer is CCU's anchor product and historical core — CCU is Chile's largest brewer, selling proprietary brands like Cristal and Escudo alongside licensed brands including Heineken, Sol, and Coors. Non-alcoholic beverages form a major secondary pillar, with CCU producing soft drinks under PepsiCo licenses (Pepsi, 7Up) and proprietary brands (Bilz, Pap), plus bottled water. CCU also produces pisco through its ~80%-owned Compañía Pisquera de Chile subsidiary, and operates a wine business through ~85%-owned Viña San Pedro Tarapacá, which exports to over 80 countries. Chile represents roughly 72% of consolidated net sales and is the dominant earnings driver. Argentina is the second-largest market but has been a source of earnings volatility due to currency devaluation, hyperinflation accounting, and difficulty sustaining real pricing. CCU's business model is volume- and brand-driven: CCU holds roughly 45% weighted volume market share across beverage categories in Chile, giving it pricing power to raise prices at or above inflation. A significant portion of revenues come from licensed global brands, giving CCU access to recognized names without R&D costs. CCU owns an integrated distribution network in Chile reaching over 110,000 points of sale, shared across beer, soft drinks, water, and spirits. Key cost exposures include USD-denominated raw materials sensitive to peso movements. CCU's growth strategy focuses on margin recovery through pricing and efficiency, and geographic expansion — notably building out its PepsiCo license in Paraguay and scaling its beer JV in Colombia with Grupo Postobón.