MEXICO: Coca-Cola FEMSA agrees US$700m deal for Grupo Yoli
Coca-Cola FEMSA is to acquire debt
Coca-Cola FEMSA is to buy Mexican bottler Grupo Yoli in a deal valued at US$700m, subject to regulatory approval.
FEMSA will get Yoli's two Coca-Cola bottling facilities and 20 distribution centres serving Acapulco and Ixtapa Zihuatanejo, the company announced yesterday (17 January). FEMSA will take on about MXN1bn (US$79.3m) in debt as part of the agreement, it said.
FEMSA will also acquire a further 10.14% stake in Promotora Industrial Azucarera to give it a 36.3% share in the Mexican sugar producer, while Yoli will receive about 42.4m FEMSA shares valued at MXN7.8bn.
Carlos Salazar Lomelin, FEMSA's CEO said the transaction “underscores our commitment to continue expanding within Latin America”.
Last year, Yoli, which has 3,500 staff, sold about 99m unit cases and posted net sales of MXN4bn.
FEMSA has widened its horizons in the past few months. In December, it agreed to buy a bottler in the Philippines, its first acquisition outside Latin America.
I can't remember precisely when I first saw the BRIC acronym. Indeed, with only ten years' experience of the drinks industry, it seems to be have been around longer than I have. I can remember, howeve...
FEMSA is the leading bottling company for The Coca-Cola Co in Mexico and globally. The company also manages a large retailing division under the OXXO brand with over 10,000 stores across the country a...
Even though locals still have a strong preference for standard fresh ground coffee, the increasing availability of more convenient alternatives (such as pods) in both traditional and modern grocery re...
As the carbonates competitive environment keeps changing, the Big Cola brand is consolidating its position among lower and even mid-income buyers, who are very attracted to the evident price differenc...
- A tobacco analogy soft drinks will want to embrace
- PepsiCo to consider more re-franchising - CEO
- Cleaning China's seedier side brings Remy balance
- Pernod's Portman Group penalty - a coincidence?
- just The Preview - SABMiller's Q1
- Diageo's Captain Morgan Facebook ad banned
- Diageo faces public consultation over W&M sale
- William Grant silent on Drambuie bid talk
- Bacardi to fight US football team legal action
- Alcohol retailer group appoints new chairman