Coca-Cola FEMSA and Grupo CIMSA successfully merge their bottling operations

Mexico City, Mexico – December 12, 2011 – Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL; NYSE:

KOF) (“Coca-Cola FEMSA” or the “Company”), the largest public bottler of Coca-Cola products in the world

in terms of sales volume, and Corporación de los Ángeles, S.A. de C.V. and its shareholders (“Grupo

CIMSA”) announce the successful merger of Grupo CIMSA with Coca-Cola FEMSA.

This transaction received all necessary approvals, including the approval of The Comisión Federal de

Competencia, the Mexican antitrust authority, and The Coca-Cola Company. Subsequently, Coca-Cola

FEMSA held an extraordinary shareholders meeting on December 9, 2011, at which the Company’s

shareholders approved this merger.

The aggregate enterprise value of this transaction is Ps. 11,000 million, which at the time of the

announcement of this merger represented an EV/EBITDA multiple of approximately 10 times. As a

result of the completion of the due diligence process, no material adjustment was recorded, and Grupo

CIMSA’s main shareholders received 75.4 million newly issued KOF series L shares. Coca-Cola

FEMSA assumed Ps. 2,100 million in net debt.

“We are pleased to have successfully closed this merger in less than three months. Since we announced this

transaction in September of this year, both teams focused intently on achieving this goal. Grupo CIMSA´s

remarkably organized business made this fast integration possible. Now, we become one larger and stronger

team that will leverage a combined platform of geographically contiguous assets and mutual capabilities. As

we are enthusiastically about to begin another year, we remain committed to generate increased value for all

our shareholders. We want to thank everyone who was involved in this transaction, including our new partner,

Grupo CIMSA, with whom we share an aligned vision for future growth,” said Carlos Salazar Lomelin, Chief

Executive Officer of the Company.

Coca-Cola FEMSA will start integrating the results of Grupo CIMSA as of December, 2011.

Profit and Creel, García-Cuéllar, Aiza y Enríquez acted as exclusive financial and legal advisors, respectively,

to Grupo CIMSA in this transaction.

Deloitte Galaz, Yamazaki, Ruiz Urquiza, S.C. and Ritch Mueller acted as financial and legal advisors,

respectively, to Coca-Cola FEMSA in this transaction.

Descargar noticia

Sign up for our Newsletter


Select your topics of interest:





Sostenibilidad