Coca-Cola FEMSA reaches an agreement to
acquire CVI Refrigerantes in Brazil
Mexico City, Mexico – December 17, 2021 – Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOF UBL; NYSE: KOF) (“Coca-Cola FEMSA” or the “Company”), announces that its Brazilian subsidiary Spal Industria Brasileira de Bebidas S.A. (“Spal”) has reached an agreement to acquire 100% of Brazilian Coca-Cola bottler, CVI Refrigerantes Ltda. (“CVI”). The parties agreed to an all-cash transaction for an enterprise value of R$632.5 million (subject to confirmation on debt, cash and other customary adjustments between signing and closing).
On an estimated proforma 2021, CVI’s volume is of approximately 30.9 million unit cases, not including beer.
CVI operates one bottling facility and three distribution centers in the state of Rio Grande do Sul, serving more than 13 thousand points of sale and more than 2.8 million consumers. Its footprint borders Coca-Cola FEMSA’s operations in the south of Brazil and Uruguay, bolstering Coca-Cola FEMSA’s leadership position in the region and allowing Coca-Cola FEMSA’s volume to reach 52% of the Coca-Cola System’s volume in Brazil.
“We are delighted to announce that we have reached an agreement to acquire CVI. This transaction not only complements our footprint in the south of Brazil, it represents an additional step in our strategy to continue exploring profitable inorganic growth opportunities with the ultimate goal of generating value to our shareholders and a positive impact in the communities where we operate.” said John Santa Maria, Coca-Cola FEMSA’s Chief Executive Officer
The transaction is subject to customary closing conditions and the approval or clearance of the respective authorities.
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