Coca-Cola FEMSA to Buy Panamanian Company

The Mexican group Coca-Cola Femsa has signed a preliminary agreement to acquire all the shares of Grupo Industrias Lácteas.

Friday, October 15, 2010

This agreement includes a commitment of exclusivity in negotiations, subject to government approvals, authorizations and a complete corporate legal, financial and operational audit.

This transaction will allow the Company to enter into the category of milk products, one of the most dynamic segments in scale and value in the industry of non-alcoholic beverages in Latin America. It is also an attractive opportunity for growth in the beverage market in Panama.

In case of obtaining all the approvals mentioned above and successfully conclude this transaction, this business would be part of the platform of non-carbonated beverages which Coca-Cola FEMSA shares with his partner, The Coca-Cola Company.

More on this topic

Coca Cola Fined for Anti-Competitive Practices

July 2012

The penalty imposed by the Commission to Promote Competition in Costa Rica has been upheld after the First Chamber of the Supreme Court declared the last appeal filed by the company irrelevant.

The penalty for monopolistic practices, dating back to May 2004 was because the bottler apparently made exclusive contracts with vendors and fixed prices.

Coca-Cola FEMSA Completes Acquisition of "Grupo Industrias Lácteas"

March 2011

The Mexican Corporation Coca-Cola FEMSA announced it has completed the acquisition of Panama's "Grupo Industrias Lácteas", parent company of "Estrella Azul", "Conservas Panameñas" and "Plásticos Modernos".

This is Coca Cola's first foray into the milk and dairy industry, which is one of the largest and most dynamic segments of the non-alcoholic beverages market in Latin America.

Panama: Industrias Lácteas to Construct Dairy Factory

August 2010

The dairy produce company will invest between $60 and $80 million in this project, according to Panama America.

Frank Tedman, head of operations for the company known for its Estrella Azul ("Blue Star") brand, told the newspaper that the factory's design and layout had been finalized and the methods chosen for processing the milk.

Femsa's Revenue Up 64% in C.A.

August 2009

Coca-Cola Femsa's revenue in the region for the first half of the year was 64% more than the same period of 2008.

Coca-Cola's regional subsidiary is called "Latincentro", and comprises Colombia, Venezuela, Guatemala, Nicaragua, Costa Rica and Panamá. The 64% increase in revenue experienced by this division is due to higher unitary prices and a 10% increase in sales volume.

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