Felipe Marquez, vice-president of corporate affairs of Coca-Cola Femsa Colombia, said: “Colombia is a market with an enormous, strong growth potential. While Mexicans can drink 550 bottles of liquid per year, Colombians only consume 100 bottles of liquid per year”.
Part of the investment includes the $46m the company paid to acquire a 50% stake in rival Agua Brisa, owned in Colombia by Bavaria (Coca-Cola Co bought the other 50%). Femsa said another $8m will be spent to buy new trucks, cases and warehouses to boost Brisa’s sales after taking the company over in June. A further $65m will be invested to launch new juice brands, distribute iced teas, and expand its soft-drink distribution network. Coca-Cola Femsa will use its cash to finance those expenditures.
Coca-Cola Femsa sold 1.3trn Colombian pesos’ worth of beverages in Colombia last year, but Marquez declined to provide forecasts for this year. The company has six plants in Colombia that produce Coca-Cola branded soft drinks and other beverages, as well as a water bottling plant. Marquez added that Femsa will also start exporting Mexican beer brands Sol, Tecate and Carta Blanca to Colombia.
Source: Namnews
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