M&A News: Cola wars

M&A News: Cola wars


By Ben MillerBrazil has been the center of attention for Latin America’s Coca-Cola bottlers. Chile’s Embotelladora Andina and Mexico’s Coca-Cola Femsa (KOF) both gained sizeable footprints. KOF agreed to pay $1.86 billion for Spaipa, the second-largest privately owned coke bottler in Brazil, two months after picking up Companhia Fluminense de Refrigerantes in July for $448 million. Analysts said KOF paid a high price for Spaipa, but the market position might make it worthwhile. Not to be outdone, Andina moved for Companhia de Bebidas Ipiranga in a deal valued at $540 million. The purchase was seen as fair to slightly expensive, and adds to Andina’s existing assets in Brazil as

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