Coca-Cola FEMSA Acquires Grupo Industrias Lacteas in Panama
It enables the Company to enter the milk and value-added dairy products category, one of the most dynamic segments in terms of scale and value in the non-alcoholic beverage industry in Latin America.
3/29/2011 --- Coca-Cola FEMSA, S.A.B. de C.V., the largest public bottler of Coca-Cola products in the world in terms of sales volume, announced that, together with The Coca-Cola Company, it successfully closed the acquisition of Grupo Industrias Lacteas, a leading company with a more than 50-year tradition in the Panamanian dairy and juice-based beverage categories.
This transaction represents and important step in the growth strategy of Coca-Cola FEMSA. It enables the Company to enter the milk and value-added dairy products category, one of the most dynamic segments in terms of scale and value in the non-alcoholic beverage industry in Latin America. It further reinforces the Company's non-carbonated product portfolio in the juice-based beverage segment.
"This transaction will significantly strengthen our position in the Panamanian beverage market through the incorporation of a portfolio of high quality products, including such widely recognized brands as Estrella Azul and Del Prado -- which enjoy a more than half century tradition of excellence in Panama. Importantly, we are proud to welcome a talented team of professionals to our Company who will help us to capitalize on our learning capabilities, leverage our mutual strengths, and reinforce our strategic partnerships with customers and suppliers, so we can offer our consumers more and better beverage alternatives," said Carlos Salazar Lomelín, Chief Executive Officer of Coca-Cola FEMSA.
