It acquired the shares of the Mexican beverage division Grupo Fomento Queretano for 6.6 billion pesos. Coca-Cola Femsa (KOF), the largest independent bottler of Coca Cola products in the world, said today that it has “successfully” completed the purchase of a stake in the Mexican beverage division of Grupo Fomento Queretano for 6.6 billion pesos (about $502 million).
In a statement sent to the Mexican Stock Exchange, KOF stated that the transaction was carried out with the approval of the Federal Commission for Market Competition, the Mexican Antitrust Authority and The Coca-Cola Company.
Grupo Fomento Queretano shareholders received approximately 45.1 million newly issued KOF Series L shares.
In addition, Coca-Cola Femsa assumed net debt worth 1.221 million pesos (about $93 million).
“These new areas represent a strategic link with our existing operations in Mexico, which will allow us to leverage our experience in the beverage industry, the talent of our people and the value of our brands,” said company director Carlos Salzar. Lomelin.
With this transaction, we also “increased our participation in Piasa (Promotora Industrial Azucarera), one of the largest and most efficient sugar factories in Mexico, to more than 26 percent,” he added.
Coca-Cola Femsa has indicated that it will begin integrating the results of Grupo Fomento Queretano’s beverage division this month.
This company, based in the city of Monterrey, manufactures and distributes Coca-Cola, Fanta, Sprite, del Valle and other products of The Coca-Cola Company brands in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil and Argentina.
It also sells bottled water, juices, teas, isotonic drinks, beer and other products.
The company has 34 filling stations in Latin American countries and serves more than 1.6 million retail businesses in the region.