Heineken N.V. announced on Thursday that it has completed the acquisition of Brazil Kirin Holdings S.A. from Japanese brewer Kirin Holdings Company, Limited.

“The closing of the transaction follows fulfilment of all conditions precedent as agreed on 13 February 2017, when HEINEKEN announced it had entered into an agreement to acquire Brasil Kirin,” Heineken said in a statement.

The company further said it had received all regulatory clearance from the Brazilian Competition Authority (CADE) for the acquisition.

With the acquisition now behind it, Heineken is now the second largest brewer in Brazil with nearly 20%  market share behind Ambev, the Brazilian unit of Anheuser-Busch InBev which has 65% market share.

Heineken acquired Brazil Kirin from Japanese brewer Kirin Holdings Limited which is exiting the market citing a “stagnant and competitive” market.

Heineken which has five breweries in Brazil along with a strategic distribution partnership with the country’s Coca-Cola bottlers stand to gain 12 additional breweries from the transaction along with Kirin’s own distribution network.

The Dutch brewer is optimistic about the longer term fundamentals of the Brazilian beer market because of the country’s expanding population which currently stands at around 207 million people.