Dallas, Texas 09/03/2013 (Financialstrend) – Mexico’s Coca-Cola FEMSA, the biggest Coke bottler in the globe, declared that it has got hold of Spaipa of Brazil.
The deal has been valued at around $1.855 billion.
The all-cash contract will boost Coca-Cola FEMSA’s volume by around 40% in the Brazilian market.
Even though it has been sanctioned by Coca-Cola FEMSA’s directorate, the agreement is still waiting for the authorization of Brazil’s antitrust agency. Coca-Cola FEMSA will also seek to gain the consent of The Coca-Cola Company (NYSE:KO).
From June last year to June this year, Spaipa sold around 233.3 million cases of drinks, comprising beer, for around $905 million in net income.
“We carry on creating a healthy platform in the Brazilian market with the acquirement of the second biggest privately possessed bottler in the structure, operating in one of the zones with the maximum gross domestic product (GDP) per capita in the nation,” Coca-Cola FEMSA CE Carlos Salazar Lomelin stated.
The agreement comes on the heels of Coca-Cola FEMSA’s acquirement of Brazilian Coke maker Companhia Fluminense de Refrigerantes for an aggregate sum of around $448 million.
Coca-Cola FEMSA makes and sells Del Valle, Coca-Cola, Sprite, Fanta as well as other beverages from The Coca-Cola Company in the Argentinean, Brazilian, Colombian, Costa Rican, Guatemala ,Mexican, Nicaragua, Panama, the Philippines and Venezuelan zones.
The firm owns 63 bottling plants and serves over 321 million consumers via 2,700,000 retail merchants with over 100,000 employees all over the world.
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