Coca-Cola Femsa in talks to buy Coke bottling operations in Philippines
Coca-Cola Femsa, a bottler of Coca-Cola trademark beverages, has entered into a one year exclusivity agreement with The Coca-Cola Company to evaluate the potential acquisition of a controlling ownership stake in the bottling operations owned by The Coca-Cola Company in the Philippines.
Both the companies believe that Coca-Cola Femsa's expertise and successful track record operating in fragmented markets and emerging economies can be effectively deployed in this territory and contribute towards expanding the penetration of, and consumer preference for, Coca-Cola brands in the country.
The agreement does not require either party to enter into a transaction, and there can be no assurances that a definitive agreement will be executed.
Coca-Cola Femsa produces and distributes Coca-Cola, Fanta, Sprite, Del Valle and other trademark beverages of The Coca-Cola Company in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil and Argentina, along with bottled water, juices, teas, isotonics, beer and other beverages in some of these territories.
The company has 35 bottling facilities in Latin America and serves more than 1,700,000 retailers in the region.
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