US snack firm Wise Foods has seen EBITDA increase at a double-digit rate in the first nine months of the year, helped by increased distribution, owner Coke bottler Arca Continental has reported.
Arca, which snapped up Wise Foods last year, said the “wide acceptance” of the company’s snacks in Chicago, plus new listings in the east and south of the US, boosted earnings. The Mexico-based group, the second-largest Coca-Cola bottler in Latin America, also cited an “improved product mix”.
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Details of Wise Foods’ financial performance came as Arca reported its financial results for the period to the end of September. At the same time as acquiring Wise Foods, Arca also purchased a snacks firm in Ecuador, Industrias Alimenticias Ecuatorianas, or Inalecsa. Arca said it had secured national coverage for Inalecsa during the reporting period.
Arca’s numbers provided indications that the acquisitions of Wise Foods and Inalecsa has helped profits.
It said consolidated EBITDA for the third quarter had increased 11.7% – or 8.8% when excluding the impact of Wise Foods and Inalecsa.
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By GlobalData
