Mexico's Coca-Cola FEMSA, the biggest Coke bottler in the world, on Monday completed its acquisition of Panama's Grupo Industrias Lacteas, its first venture into the dairy industry. Coca-Cola FEMSA, a joint venture between Mexico's FEMSA (FMSAUBD.MX) and Coca-Cola Co (KO.N), did not disclose the value of the deal. The Panamanian dairy company reported revenues of $140.9 million in 2010, according to a statement from Coca-Cola FEMSA. Grupo Industrias Lacteas, which is more than 50 years old, also sells juices.
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