(prensa.com) The Mexican company Coca-Cola Femsa, the largest bottler of Coca-Cola products worldwide in terms of sales volume, yesterday announced the closing of its purchase of Grupo Industrias Lácteas of Panama, which includes the brands Estrella Azul, Conservas Panameñas and Plásticos Modernos.Although the amount of the transaction was not released, analysts placed the amount at about $220 million.
The transaction has enabled Femsa to establish a presence in Panama in the beverage industry, specifically milk production.
“Without a doubt, this acquisition has significantly expanded our presence in the Panamanian beverage market through the purchase of a recognized portfolio of high quality products,” said Femsa Director Carlos Salazar Lomelín.
Industrias Lácteas had sales of $140 million in 2010. Company officials said they were satisfied that the transaction will keep the brand, which is part of the commercial history of the country, in tact.