The investment bank, Merrill Lynch, has begun its coverage of the Mexican soft drinks bottler, Embotelladoras Arca, with a “buy” rating.
“In our opinion, Arca is among the most attractively valued Coke bottlers in the world,” Merrill Lynch said.
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Arca, Mexico’s second largest bottler of Coke brands, was formed in 2001 when three bottlers merged in a bid to compete with the dominant force, Coca-Cola Femsa.
The company posted a net profit of MXN1.264 billion (US$119m) on sales of MXN13.192m (US$1.25 billion) last year.
