CHILE: Andina, Embonor and Polar create alliance
Three Chilean bottling companies have agreed to co-operate on a joint venture, entitled Vasa, to produce branded mineral water and juices under license from Coca-Cola. Andina, Embonor and Polar, who all produce Coca-Cola branded soft drinks, have decided to co-operate in order to develop sales of bottled water and juices further.
Andina, Embonor and Polar will hold stakes of 56.5%, 26.4% and 17.1% respectively in the new joint venture. Embonor and Polar will pay compensation to Andina for its loss of exclusivity in producing some of the brands.
Andina's activities are focussed on Chile's central region, although it also has subsidiaries in Brazil and Argentina. Embonor is active in northern and southern Chile as well as Bolivia, while Polar is also active in the northern and southern regions and in Paraguay.
Mineral water and juices were the fastest-growing soft drinks segments in Chile in the first three quarters of 2005, with mineral water sales gaining 25% year-on-year, while juice sales gained 7.4%.
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