(Image: Becle Comp.)

(Image: Becle Comp.)

Mexico: Jose Cuervo maker hit hard by tariff hike

During the presentation of its 2024 financial results, Becle, the maker of Jose Cuervo, shared its 2025 forecast following the U.S. government's decision to impose a 25% tariff on Mexican products starting March 4.

CFO Rodrigo de la Maza stated, "We estimate the impact of these tariffs to be approximately $80 million in 2025, assuming no mitigation measures are taken through pricing, operational efficiencies, or currency effects."

In the fourth quarter of 2024, Becle reported a 2% year-over-year decline and a 10.5% drop in comparable sales at a fixed exchange rate. For the full year, total sales fell 0.9% year-over-year and 2.9% on a comparable basis.

Looking ahead to 2025, de la Maza said the company expects mid-single-digit growth in net sales value compared to 2024.

More articles