Coca-Cola Femsa, the largest Coke franchise bottler in the world by sales volume, has acquired Uruguay’s Montevideo Refrescos (Monresa) from The Coca-Cola Company for $250.7 million.
The deal sees Femsa increase its presence into a total of 11 countries, adding to its operations in the Philippines, Central America, South America and Mexico.
Monresa was founded in 1943 and is the exclusive distributor and manufacturer of the Coca-Cola beverage portfolio in Uruguay, serving a market of 3.4 million consumers.
Coca-Cola Femsa CEO John Santa Maria said: “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.”
The move follows on from Femsa’s $1.03 billion acquisition of Vonpar through its Brazilian subsidiary, Spal Industria Brasileira de Bebidas, to further its presence in South America.
It is also investing $800 million in the expansion of its Filipino operation to increase production capacity by around 20% and enhance its position within the Philippines’ soft drinks market.
Earlier this year Coca-Cola Femsa closed its bottling operations in Ciudad Altamirano, Mexico, due to constant security and safety threats to its employees.
The company said in a statement: “The current lack of the necessary conditions to efficiently and safely operate within this part of the State of Guerrero, as exemplified by the recent unjustified assault on one of its employees, led the company to make this decision.”