MEXICO: Grupo Embotelladoras Unidas, PepsiCo, Empresas Polar sign soft drinks deal
By just-drinks.com editorial team | 19 July 2011
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Grupo Embotelladoras Unidas, PepsiCo and Empresas Polar will join to produce soft drinks in Mexico |
Grupo Embotelladoras Unidas has entered into an agreement with PepsiCo and Empresas Polar to produce and distribute soft drinks in Mexico.
The Mexican bottler will combine its bottling and distribution capabilities with PepsiCo and Venezuelan food and drinks firm Empresas Polar, it said in a Mexican stock exchange filing yesterday (18 July). PepsiCo's Mexican distribution and bottling operations will become part of Geusa, a subsidiary of Unidas, known locally as Geupec.
Geupec will hold a 51% stake in the operation, while Empresas Polar, which is also a Pepsi bottler, will have a 29% share. PepsiCo will hold the remaining 20%.
The newly-expanded Geusa will produce a number of carbonated and non-carbonated drinks, including brands such as Gatorade, 7Up, Lipton, Mirinda, Santorini and Pepsi.
PepsiCo has an option to increase its stake in the operation after six years, a move that will reduce Unidas' share.
The deal, subject to competition commission approval, is expected to complete in late September.
Sectors: Mergers & acquisitions, Soft drinks, Water
Companies: PepsiCo
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