Coca-Cola Femsa buys Spaipa Brazilian for $ 1,855 billion

SÃO PAULO-Coca-Cola Femsa, a joint venture between the American and Mexican bottling giant, announced that it has closed deal to buy 100% of the capital of the Brazilian Beverage Industry Spaipa SA, the second largest bottler of the Coca-Cola system in Brazil, for $ 1,855 billion.
In 2012, Spaipa presented net revenue of $ 929 million and a pro forma consolidated Ebitda of $ 152 million. Coca-Cola Femsa estimates that the synergies captured with the operation over the next 18 months to 24 months should be approximately $ 33 million in Ebitda.
Spaipa's strategy fits geographically with Coke Femsa's operations in the State of Mato Grosso do Sul and São Paulo, says the company's press release about the transaction. "This operation will increase our volume in Brazil in 40%, allowing us to get to 39% of the volume of the Coca-Cola system in the country."
Spaipa is manufacturer and distributor of Coca-Cola in the State of Paraná and São Paulo, has seven distribution centers, there are more than 6 thousand employees and serves approximately 17 million customers.
The transaction must be approved by the Administrative Council for economic Defense (Cade) in Brazil. Coca-Cola Femsa will also seek approval from The Coca-Cola Company for operation.