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MEXICO: Coca-Cola FEMSA makes preliminary deal with Grupo Industrias Lacteas

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Coca-Cola FEMSA has signed a memorandum of understanding allowing it exclusivity for the purchase of Panama-based dairy firm Grupo Industrias Lácteas.

The Coca-Cola bottler could acquire all of the firm's shares through the understanding, it said yesterday (14 October). While financial details behind the possible purchase were not disclosed, Coca-Cola FEMSA said it would allow it to enter into the milk and dairy products category, "one of the most dynamic segments in terms of scale and value" in the non-alcoholic beverage industry in Latin America.

If the transaction is approved, Grupo Industrias Lácteas will become part of Coca-Cola FEMSA's non-carbonated beverage division. The acquisition would be subject to government and regulatory approvals and corporate authorisations.

Grupo Industrias Lácteas is a manufacturer and distributor of milk, yoghurt, ice cream, juices and nectars under the Estrella Azul, De Oro, Vaquita, Vita Slim, Del Prado and Plamosa brands for the Panama market.

The group has three manufacturing plants and employs around 1,800 staff.


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