ATLANTA — The Coca-Cola Co. and Coca-Cola FEMSA, S.A.B. de C.V. have entered into an agreement with Unilever P.L.C. to acquire Unilever’s AdeS soy-based beverage business for $575 million.
Founded in 1988 in Argentina, AdeS was the first major soy-based beverage brand launched in Latin America. The AdeS brand currently has a presence in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile and Colombia. During 2015, AdeS sold 56.2 million unit cases of beverages and generated net revenues of $284 million.
|Brian Smith, president of Coca-Cola's Latin America Group|
“The acquisition of AdeS marks another milestone for the Coca-Cola system in providing increased choice of nutritious and delicious products to our consumers,” said Brian Smith, president, Latin America Group, Coca-Cola. “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.”
John Santa Maria, chief executive officer of Coca-Cola FEMSA, said AdeS “complements and reinforces” the company’s non-carbonated beverage portfolio.
|John Santa Maria, c.e.o. of Coca-Cola FEMSA|
“Together with our partner, The Coca-Cola Co., 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,” Mr. Santa Maria said.
For Unilever, the sale of the AdeS brand is an opportunity for the company to reshape its portfolio in Latin America.
|Miguel Kozuszok, executive vice-president, Latin America, Unilever|
“AdeS is an iconic brand, and we believe that its potential can be fully realized within the Coca-Cola system,” said Miguel Kozuszok, executive vice-president, Latin America, Unilever.Once the transaction has been approved, the AdeS business will become part of the non-carbonated beverage platforms that Coca-Cola FEMSA shares with The Coca-Cola Co. in its franchise territories. In all other territories, Coca-Cola said it will work with its local bottling partners to develop AdeS in those markets through similar non-carbonated beverage partnership arrangements.