Consolidated operations will reach 41 million Brazilian consumers.
Sao Paulo, Brazil, June 26, 2008 – Coca-Cola FEMSA, S.A.B. de C.V. (“Coca-Cola FEMSA”), the largest Coca-Cola bottler in Latin America and the second largest Coca-Cola bottler in the world in terms of volumes, announced today that it has successfully closed the transaction with The Coca-Cola Company to acquire its Refrigerantes Minas Gerais Ltda. (“Remil”) franchise territory. The transaction is subject to the customary approval of the antitrust local authorities. The aggregate value of this transaction is US$364.1 million dollars. This transaction reinforces Coca-Cola FEMSA’s strategy to grow in one of the most dynamic economic regions in the world.
“This transaction will expand our footprint in Brazil by more than a third and substantially increase the number of clients and customers that we will serve through the most complete and balanced portfolio of high-quality beverages,” said Carlos Salazar, Chief Executive Officer of Coca-Cola FEMSA.
Founded in 1948 in Belo Horizonte, Remil sold 114 million unit cases of sparkling beverages, water, stillbeverages and beer in 2007. This franchise serves the cities of Belo Horizonte, Contagem, Curvelo,Divinópolis, Governador Valadares, Ipatinga, Juiz de Fora, Lavras, Leopoldina, Mariana, Montes Claros, Janaúba, and Petrópolis. The company’s net revenues for 2007, under Brazilian GAAP, were approximately R$ 721 million.
Remil encompasses a population of approximately 15 million, including Belo Horizonte, the third largest city in Brazil. Coca-Cola FEMSA’s consolidated operations in Brazil, including both of its franchise territories, will represent approximately 30% of the Coca-Cola bottling system in Brazil, employ approximately 9,200 people, include 4 production facilities, and serve more than 41 million consumers.Descargar noticia