Coca-Cola Femsa continues Brazil expansion with $1.855B deal

|About: Coca-Cola FEMSA, S.A.B. D... (KOF)|By:, SA News Editor

Coca-Cola Femsa (KOF), the biggest soft-drinks bottler in Latin America, has agreed to acquire Brazil's Spaipa Industria Brasileira de Bebidas in a deal valued at $1.855B.

The purchase of Spaipa, which generated net revenues of $905M in FY 2013, will increase Coca-Cola Femsa's volume in Brazil by 40%.

News of the transaction comes days after Coca Cola Femsa completed the acquisition of Brazilian Coke bottler Companhia Fluminense de Refrigerantes for $448M.

Coca-Cola Femsa is a joint venture between Coca-Cola (KO) and Mexican retail and bottling company Femsa. (PR)