Latin America's top coke bottler Coca-Cola Femsa (KOFL.MX) will close its acquisition of family-owned bottler Grupo CIMSA this year and could consider other deals, executives said on Wednesday. The CIMSA purchase, announced on Monday, is the latest of several acquisitions by Coca-Cola Femsa (KOF.N) that will boost profitability and help cut spending on production plants next year, Chief Financial Officer Hector Trevino told analysts. In June, the Mexico City-based bottler said it agreed to purchase Grupo Tampico, another family-owned company. The executives said they expect savings of 260 million pesos ($20 million) from the CIMSA acquisition and at least 180 million pesos in savings from the Tampico purchase.
Coca-Cola FEMSA SAB de CV is a Mexico-based company primarily engaged in the production, bottling, distribution and sale of non-alcoholic beverages under the Coca-Cola trademark in Mexico, Central America, Colombia, Venezuela, Brazil and Argentina. Shares of KOF fell by 2.22% or $-2.11/share to $93.11. In the past year, the shares have traded as low as $71.35 and as high as $102.59. On average, 65672 shares of KOF exchange hands on a given day and today's volume is recorded at 55779.
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