Coca-Cola acquires SabMiller's water business
The Coca-Cola Company and bottler Coca-Cola Femsa have reached an agreement to purchase the SABMiller's brand of bottled water and production facilities in Colombia from SABMiller's subsidiary Bavaria SA for US$92 million in cash.
Agua Brisa is produced at 13 facilities and sold in more than 230,000 retail outlets. Jose Carbajal, chairman of Coca-Cola Femsa said: "Through this acquisition, we will will expand our product portfolio to satisfy our consumers' preferences, reinforce our water strategy and continue to deliver value for our shareholders."
Pending approval from the Colombian anti-trust authorities, the deal is expected to close late this year or early next year.
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