Coca-Cola and Coca-Cola FEMSA to Acquire AdeS Soy-Based Beverage Business from Unilever for $575M
The Coca-Cola Company, together with Coca-Cola FEMSA, S.A.B. de C.V., announces that it has entered into an agreement to acquire Unilever's AdeS soy-based beverage business for an aggregate amount of $575 million. Founded in 1988 in Argentina, AdeS is the leading soy-based beverages brand in Latin America. As the first major brand launched in the category, AdeS pioneered the development of the second largest global market for soy-based beverages. The AdeS brand currently has a presence in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile, and Colombia. During 2015, AdeS sold 56.2 million unit cases of beverages and generated net revenues of US$ 284 million.
This transaction has been approved by the Boards of Directors of The Coca-Cola Company, Coca-Cola FEMSA, and Unilever, and is subject to regulatory approvals and customary closing conditions. Post completion, it is intended that the AdeS business will become part of the non-carbonated beverage platforms that Coca-Cola FEMSA shares with The Coca-Cola Company in its franchise territories. In all other territories, The Coca-Cola Company will work with its local bottling partners to develop AdeS in those markets through similar non-carbonated beverage partnership arrangements.