Coca-Cola Femsa buys 40 percent of all South American soft drinks
One of the largest producers of soft drinks, Coca-Cola Femsa of Mexico is buying its Brazilian competitor Spaipa SA Industria Brasiliera de Bebidas for 1.86 billion dollars.
The joint venture will produce up to 39 percent of all Coca-Cola beverages in Brazil. Previously, the company had acquired another Brazilian beverage-making company for over 448 million dollars. During the last two years, Femsa has spent nearly $4 billion on major acquisitions in Mexico, Brazil and the Philippines.