MEXICO: Coca-Cola FEMSA seals Grupo Yoli buy
Coca-Cola FEMSA announced the deal in January
Coca-Cola FEMSA has completed its takeover of Mexican bottler Grupo Yoli in a deal valued at US$700m.
FEMSA also upped its stake in Mexican sugar Promotora Industrial Azucarera by 10.14% to about 37% through the transaction, the Coca-Cola bottler said on Friday (24 May). Details of the proposed deal were first announced in January.
Yoli has two Coca-Cola bottling facilities and 20 distribution centres serving Acapulco and Ixtapa Zihuatanejo.
“This territory is completely contiguous to our existing franchise in Mexico and presents an interesting single-serve and sparkling beverage mix in its portfolio,” FEMSA CEO Carlos Salazar Lomelín said.
FEMSA has made a number of acquistions in the past few months. In December, it agreed to buy a bottler in the Philippines, its first acquisition outside Latin America.
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