Unilever to sell AdeS soy beverage business in Latin America to Coca Cola FEMSA and The Coca Cola Company
London/Rotterdam – Unilever, one of the world’s leading suppliers of Beauty & Personal Care, Foods & Refreshment, Home Care and Refreshment products, announces that it has signed an agreement with Coca Cola FEMSA and The Coca Cola Company to sell the AdeS soy beverage business in Latin America for an aggregate amount of US$ 575 million.
“This sale is a step in reshaping our portfolio in Latin America to deliver sustainable growth for Unilever and enables us to sharpen our focus. AdeS is an iconic brand and we believe that its potential can be fully realized within the Coca-Cola system”, said Miguel Kozuszok, EVP Latin America Unilever.
“The acquisition of AdeS marks another milestone for the Coca-Cola system in providing increased choice of nutritious and delicious products to our consumers. AdeS is a leading brand in its category and we are very excited to add it to our stills portfolio. This continues the successful joint venture partnerships with our Latin American bottling partners and brings more innovative offerings to our markets,” said Brian Smith, President, Latin America Group, The Coca-Cola Company.
“AdeS complements and reinforces our non-carbonated beverage portfolio offer, providing our consumers with a wider range of choices. Together with our partner, The Coca-Cola Company, we will leverage the leading position of the AdeS brand, integrating it into our robust route-to-market model to drive value and further innovation on this new beverage platform,” said John Santa Maria, Chief Executive Officer of Coca-Cola FEMSA.
The AdeS brand currently has a presence in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile, and Colombia.
This transaction is subject to regulatory approvals and customary closing conditions.