Coca-Cola FEMSA has will merge its bottling operations with Grupo Fomento Queretano as a result of the deal

Coca-Cola FEMSA has will merge its bottling operations with Grupo Fomento Queretano as a result of the deal

Coca-Cola FEMSA has completed a deal to buy the drinks unit of fellow Mexican group Grupo Fomento Queretano, which will see their bottling operations merge. 

The deal, worth MXN6.6bn (US$478), was finalised after it received approval from the Comisión Federal de Competencia, the Mexican antitrust authority, and Coca-Cola shareholders, it was announced yesterday (May 7). The price includes MXN1.2bn of Queretano's debt. 

Carlos Salazar Lomelin, Coca-Cola FEMSA's CEO, said the purchase would "enable us to leverage our mutual expertise in the beverage industry, our talented pool of professionals, and the strong brand equity of our products, while complementing our prospects for the continued growth of our business into the future.”

The move, initially announced late last year, follows Coca-Cola FEMSA's acquisition of Grupo Cimsa for MXN11bn, also in December and the merger deal with Grupo Tampico, which closed in October.