Who Owns Dos Equis? A Comprehensive Description of Dos Equis History

Who owns Dos Equis has been a mystery to many partakers. This is interesting, as the ownership details are not that simple.

Cuauhtémoc Moctezuma, the renowned Mexican brewing company now owned by Heineken N.V., has long been regarded as the manufacturing force and proud owner of Dos Equis, a beloved and iconic brand known for its captivating “Most Interesting Man in the World” advertising campaign.

However, the ownership story takes a fascinating twist beyond the surface level, revealing a more intricate reality. As we delve deeper into the intriguing history of Dos Equis, we uncover the complexities and interconnections that make this renowned beer brand a captivating tale of business and culture.

Who Owns Dos Equis?

Dos Equis is owned by the global brewing company Heineken N.V. In January 2010, Heineken, a Dutch multinational brewery, acquired the Mexican brewing group Femsa, which included Cuauhtémoc Moctezuma (CM), the manufacturer of Dos Equis, along with other well-known beer brands like Sol and Tecate. This acquisition marked Heineken’s strategic move to expand its presence in the Mexican beer market and gain access to a broader consumer base.

Heineken’s ownership of Dos Equis opened new avenues for the brand’s international growth and distribution. Leveraging its extensive distribution network, Heineken introduced Dos Equis to a broader global audience, bringing the brand’s distinct Mexican lager to beer enthusiasts worldwide.

The acquisition also allowed for better marketing and advertising efforts, such as the iconic “Most Interesting Man in the World” campaign, which further boosted Dos Equis’ popularity and recognition.

Under Heineken’s ownership, Dos Equis continued to maintain its distinct character and flavor, while also benefiting from the company’s expertise in brewing and marketing. The acquisition provided Dos Equis with the resources and support needed to expand its market share and solidify its position as one of the most recognized and cherished beer brands globally.

Who Owns Dos Equis? Don Equis Beer profile

When and Where Was Dos Equis Founded?

Dos Equis has a rich history that dates back to 1890 when German immigrant Wilhelm Hasse founded the Moctezuma Brewery in Veracruz, Mexico. It was seven years later, in 1897, when Wilhelm Hasse first brewed what would become Dos Equis.

Originally named “Siglo XX,” meaning “Twentieth Century” in Spanish, the beer was a nod to the approaching turn of the 20th century. However, after entering the 20th century, the brewery decided to change the beer’s name to Dos Equis.

The name Dos Equis was derived from the Roman numeral for 20, which is XX, signifying the continuation of the brewery’s legacy into the new century. Translating to “Two Xs” in Spanish, the name Dos Equis became synonymous with the brand itself.

For many years, Dos Equis remained relatively uneventful, facing strong competition from other Grupo beers, particularly the popular Corona brand. Additionally, when the beer was first imported to the United States in 1973, it failed to make a significant impact in the American beer market.

It wasn’t until 2006 that Dos Equis experienced a breakthrough in the United States, thanks to the highly successful and memorable “Most Interesting Man in the World” advertising campaign. This innovative campaign sought to challenge the notion of beer drinkers leading ordinary lives, and it resonated with consumers, capturing their imagination and sparking newfound interest in the brand.

In just three years following the campaign’s launch, Dos Equis was declared the fastest-growing import in the United States, solidifying its place in the American beer industry. It is currently the third most imported beer from Mexico with more than two million Barrels in 2022.

Who Is The Founder Of Dos Equis Beer?

Dos Equis can trace its history back to 1890 when a German immigrant named Wilhelm Hasse founded the Moctezuma Brewery in Veracruz, Mexico. It was under the ownership of Moctezuma Brewery that Dos Equis was first brewed in 1897, initially known as “Siglo XX” to celebrate the approaching turn of the 20th century.

Over the years, the brand has evolved and become widely recognized, but its foundation can be linked to the establishment and brewing traditions of the Moctezuma Brewery.

You may be interested: Dos Equis Calorie Content

Where is Dos Equis made?

Dos Equis is primarily produced in Mexico, where the beer’s parent company, Cuauhtémoc Moctezuma (CM), is based. The main Dos Equis brewing plant is the Monterrey plant. The seven main brewing facilities are located in various cities across Mexico, including Monterrey, Tecate, Orizaba, Guadalajara, Toluca, and Meoqui. These breweries have been instrumental in crafting Dos Equis and maintaining its signature taste and quality.

Dos Equis has historically been brewed exclusively in Mexico, where its parent company, Cuauhtémoc Moctezuma (CM), is based. However, due to the COVID-19 pandemic and the challenges it presented for international logistics, the company temporarily shifted its brewing operations to Zoeterwoude, a municipality in the province of South Holland, Netherlands. This alternative brewing location allowed Dos Equis to continue supplying its products to international markets, including those in Europe and beyond.

Despite being a significant importer of Mexican beers, particularly Dos Equis, the United States did not have any Cuauhtémoc Moctezuma breweries as of July 2023. However, there were rumors of plans to establish a brewery in the United States, with White Plains, New York, being mentioned as a possible location.

If this plan materializes, it would enable Dos Equis to brew its beer within the United States, reducing transportation costs and potentially catering to the growing demand for its products in the American market.

Dos Equis vs Corona

Dos Equis and Corona are both popular beer brands with significant followings, but they have distinct characteristics and appeal to different consumer preferences. Here’s a comparison of Dos Equis vs. Corona:

  1. Origin and Brewery:
  • Dos Equis: Dos Equis has its origins in Mexico and is brewed by Cuauhtémoc Moctezuma, a subsidiary of the global brewing company Heineken N.V. Its brewing facilities are primarily located in Mexico, but as mentioned earlier, there have been instances of temporary brewing in the Netherlands due to the COVID-19 pandemic.
  • Corona: Corona, also hailing from Mexico, is brewed by Grupo Modelo, which is now a subsidiary of Anheuser-Busch InBev, one of the world’s largest beer companies. The main production of Corona takes place in Mexico, specifically at its brewery in Mexico City.
  1. Flavor Profile:
  • Dos Equis: Dos Equis offers a range of beers, with its flagship varieties being the “Dos Equis Lager Especial” and “Dos Equis Ambar.” The Lager Especial is a pale lager with a smooth, slightly sweet taste and a crisp finish. The Ambar, on the other hand, is an amber lager with a richer, maltier flavor profile. The Dos Uquis is a Mexican Pale Lager with 4.2% ABV. Dos Equis Lager Especial is a golden pilsner-style beer made from pure spring water and the choicest hops giving it a balanced composition and a smooth, clean finish.
  • Corona: Corona is famous for its “Corona Extra,” which is a pale lager with a light, refreshing taste, and Corona Light. Corona Extra is known for its clean, mild flavor, often served with a slice of lime to enhance the experience.
  1. Branding and Advertising:
  • Dos Equis: Dos Equis gained widespread recognition in the United States and beyond, thanks to its highly successful “Most Interesting Man in the World” advertising campaign, which portrayed a charismatic and adventurous character as shown in the video below. This campaign contributed significantly to the beer’s popularity and memorable branding.
  • Corona: Corona is known for its beach-themed advertising, often featuring images of sandy beaches, crystal-clear waters, and relaxing moments with friends. Its branding emphasizes the beer’s association with leisure, vacation, and enjoyment.
  1. Market Presence:
  • Dos Equis: While Dos Equis has a strong presence in the Mexican beer market and enjoys popularity in various international markets, its most significant success has been in the United States, particularly after the success of the “Most Interesting Man in the World” campaign.
  • Corona: Corona is one of the most widely distributed and recognizable beer brands worldwide, with a particularly strong presence in the United States. It is often associated with warm-weather settings and outdoor gatherings.

Both Dos Equis and Corona have carved their places in the beer industry, offering distinct flavors and branding. Ultimately, the choice between the two comes down to personal preference and taste preferences. Some may prefer Dos Equis’ diverse beer offerings and unique advertising, while others may opt for Corona’s light and refreshing taste with its relaxing beach-themed branding.


Dos Equis, the iconic Mexican beer brand, is currently owned by Heineken N.V., a global brewing company. Heineken acquired Dos Equis as part of its purchase of Mexican brewery FEMSA Cerveza in 2010, which included other well-known beer brands like Tecate and Sol.

Since then, Dos Equis has thrived under Heineken’s ownership, expanding its presence in international markets and maintaining its status as one of the most beloved and recognized beer brands worldwide. The table below summarizes the Cuauhtémoc Moctezuma Brewery which brews the Dos Equis Beer:

HeadquartersMonterrey, Mexico
Other productsDos Equis Lager, Dos Equis Ambar, Dos Equis Lager Lime & Salt, Dos Equis Margarita, Dos Equis Ranch Water Variety, Dos Equis Ranch Water Hard Seltzer, Dos Equis Lager Especial, Dos Equis Margarita Mango.
OwnerHeineken N.V.
Number of employees20,000
Parent CompanyHeineken N.V.

Frequently asked questions

Who makes Dos Equis?

Dos Equis is made by Cuauhtémoc Moctezuma, a subsidiary of the global brewing company Heineken N.V. The brewery’s primary production facilities are located in Mexico, where Dos Equis is crafted to maintain its signature taste and quality. There were instances of temporary brewing in the Netherlands due to the COVID-19 pandemic, but Dos Equis is primarily manufactured in Mexico.

Does Heineken own Dos Equis?

Heineken N.V. owns Dos Equis. In 2010, Heineken acquired Mexican brewery Fomento Económico Mexicano, S.A. de C.V. (FEMSA Cerveza) including Cuauhtémoc Moctezuma, which included several well-known beer brands, such as Tecate, Sol, Dos Equis, Indio, and Kloster. Since then, Dos Equis has been under the ownership of Heineken, benefiting from the company’s global reach and expertise in the beer industry.

Does InBev own Dos Equis?

InBev does not own Dos Equis. Dos Equis is owned by Heineken N.V., which acquired it as part of the purchase of Mexican brewery FEMSA Cerveza in 2010. Heineken is a separate brewing company from Anheuser-Busch InBev, which is another major player in the global beer industry.

Why is it called Dos Equis?

Dos Equis, originally named “Siglo XX,” which means “Twentieth Century” in Spanish, was a reference to the imminent turn of the 20th century when it was first brewed. The beer’s name changed to Dos Equis after the 20th century began. “Dos Equis” translates to “Two Xs” in Spanish, and the name is derived from the Roman numeral for 20, which is XX. This name change was another way of symbolizing the continuation of the brewery’s legacy and product into the new century. The use of “Dos Equis” with the Roman numerals also added a distinctive and memorable touch to the brand’s identity.