Coca-Cola FEMSA completes acquisition of Grupo CIMSA
Coca-Cola FEMSA, the independent bottler of Coca-Cola products in Mexico, has acquired the bottling operations of Grupo CIMSA, a Mexican corporation that operates two beverage business units.
Coca-Cola FEMSA, the independent bottler of Coca-Cola products in Mexico, has acquired the bottling operations of Grupo CIMSA, a Mexican corporation that operates two beverage business units.
The transaction received approval of The Comisión Federal de Competencia, the Mexican antitrust authority, and The Coca-Cola Company. Coca-Cola FEMSA held a shareholders meeting on 9 December 2011, where the company's shareholders approved this merger.
Coca-Cola Femsa announced the acquisition of the CIMSA on 19 September 2011, valuing the company at $796m in stock and assumed debt. The aggregate enterprise value of this transaction is MXN11bn ($0.79bn).
CIMSA shareholders received MXN75.4m ($5.44m) newly issued L shares, while taking MXN 2.1bn ($0.15bn) on net debt. Coca-Cola FEMSA will start integrating the results of Grupo CIMSA as of December 2011.
CIMSA Group is a private bottler of Coca-Cola in Mexico. It operates mainly in the states of Morelos and Mexico, and parts of Guerrero and Michoacan. It owns five production facilities and 20 distribution centers.
Coca-Cola FEMSA produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico. It has 37 bottling facilities in Latin America and serves close to 1,700,000 retailers in the region.
Source: Coca-Cola FEMSA
All content and features on this website are copyrighted with all rights reserved. The full details can be found in our privacy statement
