Coca-Cola FEMSA Reaches an Agreement to Acquire Companhia Fluminense de Refrigerantes in Brazil
June 28 2013 - 6:31PM
Marketwired
Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL) (NYSE: KOF) ("Coca-Cola
FEMSA" or the "Company"), the largest public bottler of Coca-Cola
products in the world, announces that it has reached an agreement
to acquire 100% of Companhia Fluminense de Refrigerantes
("Companhia Fluminense") in an all-cash transaction. During the
last twelve months ended March 31, 2013, Companhia Fluminense sold
56.6 million unit cases of beverages, including beer, generating
approximately US$ 232 million in net revenues.
The agreement has been approved by Coca-Cola FEMSA's Board of
Directors and is subject to the approval of the Conselho
Administrativo de Defesa Econòmica, the Brazilian antitrust
authority. Coca-Cola FEMSA will also seek the approval of The
Coca-Cola Company on this transaction.
The aggregate Enterprise Value of this transaction is USD$448
million and Companhia Fluminense's estimated pro forma consolidated
EBITDA of the last twelve months ended March 31, 2013 was USD$ 40
million.
"This transaction underscores our commitment to continue
focusing on the opportunities that the Latin American Coca-Cola
bottling system presents. This acquisition highlights the long-term
strategic importance of the Brazilian market for Coca-Cola FEMSA as
we believe in the attractive domestic consumption prospects and
socio-economic dynamics. This franchise represents an important
link between our São Paulo and Minas Gerais footprint, setting the
stage for important synergies to be captured from the geographic
contiguity of our territories and the reconfiguration of the supply
chain of our combined operations. Our growing family of employees
will continue to work to capitalize on the opportunities that the
beverage industry presents to us in our markets," said Carlos
Salazar Lomelín, Chief Executive Officer of the Company.
"As we maintain our focus on driving the growth of our
businesses through our passionate team of employees and managers,
we also remain keen and alert to capture strategic opportunities
where we can leverage the platform and the capabilities we have
developed over time. We congratulate our team on this important
transaction and reiterate our belief that the very reason for our
existence is to create economic, social, and environmental value
for all our stakeholders and for the communities where we operate,"
said José Antonio Fernández Carbajal, President of the Board of
Directors of Coca-Cola FEMSA.
Companhia Fluminense was founded 64 years ago in the state of
Rio de Janeiro, when The Coca-Cola Company granted the first
franchise agreement to these territories in 1949. Companhia
Fluminense has presence in parts of the states of Minas Gerais, Rio
de Janeiro and São Paulo, where it serves 141 cities, including the
city of São José dos Campos, one of the most important industrial
and research centers in Latin America. This franchise operates 1
bottling facility and 4 distribution centers, with 2,000 employees
serving 15,000 clients and 4.5 million consumers.
CONFERENCE CALL INFORMATION
We invite you to participate in the conference call to announce
the transaction, which will be held on Monday, July 1, 2013, at
11:00 A.M. Eastern Time (10:00 A.M. Mexico City Time).
The speakers on this call will be:
Mr. Carlos Salazar, Chief Executive Officer of Coca-Cola FEMSA;
and
Mr. Hector Treviño, Chief Financial Officer of Coca-Cola
FEMSA
To participate in the conference call, please dial: Domestic
U.S.: 800-289-0463 or International: 913-981-5587; Participant
passcode: 7391053. We invite investors to listen to the live audio
cast of the conference call on the Company's website,
www.coca-colafemsa.com.
If you are unable to participate live, the conference call audio
will be available at www.coca-colafemsa.com.
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes
Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages
of The Coca-Cola Company in Mexico (a substantial part of central
Mexico, including Mexico City, as well as southeast and northeast
Mexico), Guatemala (Guatemala City and surrounding areas),
Nicaragua (nationwide), Costa Rica (nationwide), Panama
(nationwide), Colombia (most of the country), Venezuela
(nationwide), Brazil (greater São Paulo, Campiñas, Santos, the
state of Mato Grosso do Sul, part of the state of Goias, and part
of the state of Minas Gerais), Argentina (federal capital of Buenos
Aires and surrounding areas) and Philippines (nationwide), along
with bottled water, juices, teas, isotonics, beer, and other
beverages in some of these territories. The Company has 62 bottling
facilities and serves 317 million consumers through close to
2,700,000 retailers with more than 100,000 employees worldwide.
Companhia Fluminense produces and distributes Coca-Cola, Fanta,
Kuat, Del Valle, and other trademark beverages of The Coca-Cola
Company serving 141 cities in parts of the states of São Paulo,
Minas Gerais and Rio de Janeiro. Companhia Fluminense was granted
its first Coca-Cola bottling franchise in 1949 and currently
operates 1 bottling facility and 4 distribution centers, with 2,000
employees serving 15,000 clients and 4.5 million consumers.
Image Available:
http://www2.marketwire.com/mw/frame_mw?attachid=2348445
For Further Information: Investor Relations Jose
Castro Email Contact (5255) 1519-5120 / 5121 Roland Karig Email
Contact (5255) 1519-5186 Carlos Uribe Email Contact (5255)
1519-5148 Website: www.coca-colafemsa.com
Coca Cola FEMSA SAB De CV (NYSE:KOF)
Historical Stock Chart
From Oct 2024 to Nov 2024
Coca Cola FEMSA SAB De CV (NYSE:KOF)
Historical Stock Chart
From Nov 2023 to Nov 2024