Coca-Cola FEMSA, SAB de CV, the largest public bottler of products Coca-Cola in the world, announced that it has reached an agreement to acquire 100% of Companhia Fluminense Refrigerant in a cash transaction. During the last twelve months to March 31, 2013, Companhia Fluminense sold 56.6 million unit cases of beverages, including beer, generating approximately U.S. $ 232 million in net income.
The agreement has been approved by the Board of Directors of Coca-Cola FEMSA and is subject to approval by the Administrative Council for the Defense Econòmica, the Brazilian federal competition commission. Additionally, Coca-Cola FEMSA will seek approval of this transaction, The Coca-Cola Company.
The added value of this transaction is $ 448 million and the estimated pro forma consolidated EBITDA Companhia Fluminense in the last twelve months ended March 31, 2013 is U.S. $ 40 million.
"This transaction confirms our commitment to remain focused on the opportunities the system Coca-Cola bottler in Latin America presents. This acquisition underscores the strategic importance in the long run in the Brazilian market for Coca-Cola FEMSA, it presents relevant insights from domestic consumption and socio-economic dynamics attractive. This franchise represents an important link between our territories of São Paulo and Minas Gerais, making it possible to capture significant synergies from geographical contiguity of our territories and the reconfiguration of the supply chain of joint operations. Our growing family of employees continue to capitalize on the opportunities presented beverage industry, "said Carlos Salazar, General Manager of the Company.
"Keeping our focus on driving the growth of our business through our passionate team of managers and employees, we remain enthusiastic and alert to capture strategic opportunities where we can leverage the platform and the capabilities we have developed over time. Congratulations to our team for this important transaction and we reiterate our conviction that the real reason for our existence is to create economic value, social and environmental value for our employees, our customers, our shareholders and the communities where we operate, "said Jose Antonio Fernandez Carbajal, Chairman of the Board of Directors of Coca-Cola FEMSA.
Companhia Fluminense was founded 64 years ago in the state of Rio de Janeiro, where The Coca-Cola Company granted the first franchise bottling these territories in 1949. Companhia Fluminense has presence in the states of Minas Gerais, Rio de Janeiro and São Paulo, where it serves 141 cities, including the city of São José dos Campos, one of the industrial centers and major Latin American research. The franchise bottling plant operates 1 and 4 distribution centers with 2,000 employees serving 15,000 customers and 4.5 million consumers.