On March 18, 1926, a group of Nicaraguan investors founded the Compañía Cervecera de Nicaragua. The first beer produced by the brewery was Cerveza Xolotlan in 1929, followed by the Pilsener and Carta Blanca brands a few years later. In 1942, with the restriction on imports on raw materials, CCN introduced the Cerveza Victoria brand. In 1996, CCN merged with its competitor, the Industrial Cervecera, S.A. (ICSA), to form the largest brewery in Nicaragua. In 2003, CCN began exporting the Cerveza Toña brand to the U.S. market.