Florida Ice & Farm’s Strategy

Since 2006 the company has been buying companies that make juices, beers, nectars and milk, firming up its plans to become a total beverage company.

Monday, April 2, 2012

Gisela Sanchez, director of corporate affairs for Florida Ice & Farm (Fifco), defines the company’s main objective: "Florida wants to become a total beverage company."

The strategy of this Costa Rican company, brewer of Imperial, Pilsen, Bavaria and Rock Ice and also glass-bottled water has been to make several major acquisitions in recent years, reported Nacion.com.

These acquisitions include the juice and nectar company Kern's for $86 million, whose plant is located in Guatemala. Then followed the purchases of HI Cuveé S. A. and Vinum Aura S. A (importors of the Rinute and Concha y Toro wines) and, more recently, Coopeleche. Fifco has products such as Tropical, Tampico, Milory, Lipton and Gatorade, to name but a few brands.

Despite its concentration in beverages, Fifco has also bought food companies such as Kern's and Ducal (sauces, pasta and black beans) and Musmanni (a chain of bakeries).

The company plans to increase its presence in the 16 international markets to which it exports, some as far away as China and Australia. "We have a lot to learn about the business and that makes us very optimistic. Of course we have core competencies related to production with high quality standards and good environmental practices," said Sanchez.

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More on this topic

Growing Consumption of Ice Tea and Juices in Costa Rica

July 2014

In 2013 the sale of ice tea generated revenue of $78.5 million, 10.4% more than in the previous year, while sales of juices rose by 9.9% in the same period.

In 2013, 36.2 million gallons of iced tea were sold, 6.1% more than in 2012, according to data from the firm Euromonitor.

Florida Ice Withdraws from Tourism Project in Costa Rica

January 2012

The company has announced its withdrawal from the Peninsula Papagayo tourism project in the Guanacaste Province.

The company owned a "minority share" of the project.

Corporate Relations Director of Florida Ice & Farm CO. Inc. (Fifco), Gisela Sanchez, explained in a press release that: “‘In line with strategic thinking regarding controlling the projects in which the company invests, we will now have the advantage of having full control over the development of large lot in the northern sector of the Papagayo peninsula. "

Fifco Acquires Musmanni Corporation

December 2011

Florida Ice & Farm, without disclosing the amount of the investment, has announced the purchase of the Musmanni Corporation, which owns the bakery of the same name in Costa Rica.

With the acquisition, Fifco acquires control of 30 branches operating in the country. There are 150 other stores operating under a franchise.

2008: The Winds are Against Florida Ice & Farm

June 2009

Several factors have affected the brewery: the depreciation of the colon, the real estate crisis, the purchase of Kern’s and Pepsi, and the Draconian transportation law in Costa Rica.

“If you drink don’t drive, if you drive don’t drink.” The new transportation law of Costa Rica, with rigorous sanctions that could even include the seizure of vehicles for drinkers behind the wheel, has caused a reduction in the consumption of beer. This is added to the depreciation of the colon, which has generated losses due to the exchange rate, and a greater participation in the project Reserva Conchal that naturally has been affected by the real estate crisis.