June 28, 2013
They may be an ocean apart, but the Philippines and Latin America have a fair bit in common. It’s not just shared historical influences: their beverage markets, too, feature a number of similarities.
To Mexico’s Coca-Cola Femsa (KOF), the opportunity was clear. Says its CFO Héctor Treviño, when it comes to consuming soft drinks, no other market in south east Asia looks as much like a Latin American nation as the Philippines. “In other [Asian] countries you see a much higher percentage of hot beverages and tea,” he notes.
Such dynamics were behind the company’s first Asian foray last December, when it agreed to buy a 51% stake in Coca-Cola Bottlers Philippines for $689 million. Although t
A successful Asian foray for Coca-Cola Femsa provides a springboard for further expansion