In 2019, we spoke with Esteban Silva (Mexico City 04-06, 08-13) a few years after the launch of his brewery Cervecería de Colima. This month, we checked in to see where he is on his journey, which has been a rollercoaster of innovation and resilience. With a private equity investment boosting their growth and a commitment to environmental initiatives, Esteban has steered the brewery into becoming a leading Mexican beer story. As he looks to the future, he remains focused on brewing good beer, expanding their presence, and staying true to their brand.
Cervecería de Colima has been in business for 11 years now. What's new since we spoke to you in 2019?
In the last six years we have experienced a lot of changes in almost every single aspect of Cerveceria de Colima.
Commercially, Covid-19 forced us to diversify our channels: in 2019, 90% of our sales were on-premise; now, those only represent 40%, with off-premise accounting for 30% and our digital channel almost 20% (a lot for a consumer packaged goods & alcohol company). The rest of our sales come from exports and contract brewing. In terms of our portfolio, in the last five years we launched a light beer (the first below 95 calories for a craft brewery in Mexico), a sparkling water and last year a non-alcoholic beer, Colima Cero, which is now our third best-selling brand and accounts for one of two new cases sold in 2025.
Also, two years ago, for the first time in our history, we received an investment from a private equity firm. That changed not only our growth opportunities, but also the governance, and it made our finance and administrative processes more robust. Part of the resources were invested in increasing 3X our production capacity and to strengthen our commercial team.
Looking at a picture of our team on the fifth anniversary (just days before our conversation six years ago) and comparing it to a picture on our 10th anniversary, around 85 of the 100 people in the picture joined in the last 5 years. The faces have changed but the love for Colima and the beer is the same.
Can you share any personal stories or moments that stand out from the past six years, either in the brewery or in the community?
I will definitely tell my grandchildren one day the story around the launching party of our brand in the U.S. in a fancy rooftop bar in Manhattan. We had closed a deal with one the largest beer U.S. distributors months before and we were extremely optimistic and enthusiastic for the future of Cerveceria de Colima: we had a great story, delicious beer and the right partner to capture the U.S. opportunity. I took a picture of a Colimita with NY’s skyline in the back and I posted it on our Instagram account. A bright future was in front of us. The date of the picture? March 10, 2020. Two weeks after, the city (and the world) collapsed. So did our first attempt to write the third great story of Mexican beer in the U.S.
How have the brewery’s community engagement, social impact, and reforestation initiatives progressed?
Since we last spoke, we launched a project called Volcan de Fuego, Montaña de Agua, along with one of Mexico’s most renewed environmental organizations. The biggest successes of the program was the declaration of a protected land of more than 1,200 hectares of pristine forest in the foothills of the volcano, where our water comes from. The project concluded last April and now we are working with Colima’s Environmental Agency on a new project for the area. Hopefully by the end of this year we’ll launch it.
Also, we are working with the local university to determine our carbon footprint and establish a path to became net positive by 2030. We believe this path won’t be too difficult since 95% of our electricity comes from the sun and we continue with our reforestation program.
What are your plans for the future of Cervecería de Colima?
The last time we spoke I mentioned the dream of writing the third great story of Mexican beer. With ups and (evident) downs, I believe we are on track: In the last six years we have consolidated our leadership among independent breweries in our country, and it is very likely (there is no public data) that we are now the largest Mexican-owned beer company, growing this year at a rate of 45%; no other Mexican craft beer brand has the geographical and omnichannel presence that we have with more than 3,000 points of sale all over the country; and Colimita, our flagship beer, is Mexico’s most awarded lager in the last 20 years.
There is a lot to still write about Mexican beer in the World: Modelo is now the most consumed beer in the U.S. and Mexico is the largest exporter of beer in the world. I firmly believe that If we keep brewing good beer and if we are consistent with our brand and digital and analytics, we’ll write a great Mexican beer story.
Has support from McKinsey alumni continued to shape the brewery’s growth and direction?
Absolutely. Most of the initial investors from McKinsey are still around and even though my original partners (and former colleagues) are no longer board members they are still my sounding board for any relevant decisions.
Also, for the first time in history, McKinsey had a project in my home city, so I enjoyed a lot having a chat (obviously with a beer on hand) with the Partner involved in the project, who was my Associate when I was an engagement manager, back in 2012.
