Chilean Bottler Expands in Brazil

Chilean Bottler Expands in Brazil

Brazil Chile M&A

Chile’s Embotelladora Andina has agreed to buy Brazilian Coca-Cola bottler Companhia de Bebidas Ipiranga in a deal valued at BRL1.22bn ($540m), it says. The purchase was seen as fair to slightly expensive, and adds to Andina’s existing assets in Brazil as it expands its footprint outside of Chile. The buyer is to pay the BRL1.22bn amount minus Ipiranga’s outstanding net debt at the time of closing, which it will assume. It plans to use debt to finance the transaction, with a bridge loan in place

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