Femsa buys Brazilian company for $ 978 million

Mexican Coca-Cola Femsa (KOF), the largest bottler of Coca-Cola soft drinks in the world, bought the company soft drink by Fluminense $ 448 million (or R $ 978 million). The KOF, a partnership between Femsa and Coca-Cola, said that the agreement was approved by its Board of Directors and only remains now the approval of the Brazilian authorities.
The company Rio soft drinks was founded 64 years in the State of Rio de Janeiro and has presence, beyond the River, in the State of Minas Gerais and São Paulo. The company, which already produces and distributes Coca-Cola products, has a bottling unit and four distribution centers in the country. In addition, employs 2 million people.
In the 12 months ended in March, the Brazilian company had net revenue of $ 232 million and Ebitda (earnings before interest, taxes, depreciation and amortization) of $ 40 million, according to the statement issued on Friday, 28. Also according to the Femsa, the Fluminense Company sold 56.6 million bottles of beverages in the period of 12 months ending on 31 March of this year.
Expansion
In December last year, the Mexican had already bought a 51% stake in bottling operations of Coca-Cola in the Philippines for $ 688,5 million in cash. At the time, the agreement as a first step in the company's acquisitions strategy out of Latin America, because, currently, Coca-Cola Femsa in Mexico, Brazil, Colombia, Venezuela, Argentina and Central America. Under the agreement, the company had the option to buy the other 49% of the Philippine company over the next seven years. In January this year, he announced the purchase of Grupo Yoli, of Mexico, for about $ 700 million in stock and debt. The information is the newspaper O Estado de s. Paulo.