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October 15, 2010

PANAMA: Coca-Cola FEMSA set to buy dairy firm Grupo Industrias Lacteas

Panama-based dairy firm Grupo Industrias Lácteas could be purchased by Coca-Cola FEMSA.

Panama-based dairy firm Grupo Industrias Lácteas could be purchased by Coca-Cola FEMSA.

The Coca-Cola bottler yesterday (14 October) announced it has signed a memorandum of understanding allowing it exclusivity for the purchase of Grupo Industrias Lácteas.

The deal would allow Coca-Cola FEMSA to enter into the milk and dairy products category, which it claims is one of the “most dynamic segments in terms of scale and value” in the non-alcoholic beverage industry in Latin America.

If the transaction is approved, Grupo Industrias Lácteas will become part of the bottler’s non-carbonated beverage division.

Grupo Industrias Lácteas is a manufacturer and distributor of milk, yoghurt, ice cream, juices and nectars for the Panama market. Its brands include Estrella Azul, De Oro, Vaquita, Vita Slim, Del Prado and Plamosa

The group has three manufacturing plants and employs around 1,800 staff.

The acquisition is subject to government and regulatory approvals.

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