August 23, 2013
Arca Continental has agreed to acquire a majority stake in Ecuador’s Holdin
Arca Continental has agreed to acquire a majority stake in Ecuador’s Holding Tonicorp, it says. A spokesperson for the buyer declines to comment on the purchase price. Tonicorp, which operates in the beverage, dairy and packaging businesses, booked $308m in sales in 2012. HSBC advised Arca and JPMorgan Tonicorp, according to the Arca spokesperson. The transaction is subject to regulatory approvals. Arca already operates in Ecuador thorough the Inalecsa snack foods business.