Coca-Cola Femsa acquires Montevideo Refrescos for US$250 million
The all-cash transaction for the franchise increases Coca-Cola FEMSA’s presence to 11 countries worldwide. The country already has operations in Central and South America and the Philippines.
Founded in 1943, Monresa is the exclusive distributor and manufacturer of the Coca-Cola beverage portfolio in Uruguay. The company serves a market of 3.4 million consumers through 26 thousand points of sale.
“As part of our strategic framework and the consolidation of leadership in the global beverage market, the integration of Monresa reaffirms our commitment to generating economic and social value for our shareholders and stakeholders,” said John Santa Maria, CEO of Coca-Cola FEMSA.
Other acquisitions
At the end of 2016, Coca-Cola FEMSA’s Brazilian subsidiary, Spal Industria Brasileira de Bebidas S.A. successfully agreed to acquire 100% of Vonpar, which was said to have “a perfect geographic fit” with Coca-Cola FEMSA’s operations in the state of Paraná, in the south of Brazil.
This transaction allowed Femsa to increase its volume in Brazil by 25%, to reach 49% of the Coca-Cola system’s volume in the country.
Closure in Mexico
In March 2018, the company announced it was closing indefinitely its operations in Ciudad Altamirano, Guerrero, Mexico, after two months of criminal harassment towards its employees in the absence of law and order.
“Coca-Cola FEMSA strongly rejects any violent action against its employees, their families, and the communities where it operates,” said the company in a press release. “The Company regrets that, as a result of the prevailing absence of law and order, it must close its distribution center in a territory in which Coca-Cola FEMSA has operated for more than four decades, generating economic and social value for the Company’s customers, consumers, community, employees, and their families.”
