Coca-Cola FEMSA buys Companhia Fluminense of Brazil
Coca-Cola FEMSA, a Mexico-based bottler of Coca-Cola products, has purchased 100% of Companhia Fluminense de Refrigerantes in an all-cash transaction.
The move allows the Mexicn bottler to establish a geographic link between its São Paulo and Minas Gerais footprint and expand its presence to parts of Rio de Janeiro in Brazil.
FEMSA will also increase its participation in Leao Alimentos from 19.7% to 21.8%. Leao Alimentos is a non-carbonated beverage player in Brazil.
Coca-Cola FEMSA chief executive officer Carlos Salazar Lomelín said that their larger family in Brazil will now work to integrate their operations and realize identified synergies.
"We reinforce our commitment to focus on the beverage industry in our markets and to capture the future growth opportunities in the Coca-Cola bottling system," Salazar added.
FEMSA will start integrating the results of Companhia Fluminense as of September 2013.