The Coca-Cola Company, together with Coca-Cola FEMSA, has signed an agreement to purchases Unilever’s AdeS soy-based beverage business in Latin America for US$575 million.
Founded in 1988 in Argentina, AdeS is the leading soy-based beverages brand in Latin America. As the first major brand launched in the category, AdeS pioneered the development of the second-largest global market for soy-based beverages. The brand is currently available in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile and Colombia.
Miguel Kozuszok, EVP, Latin America, Unilever said the sale is a step in reshaping the company's portfolio in Latin America to deliver sustainable growth for Unilever. In 2015, AdeS sold 56.2 million unit cases of beverages and generated net revenues of $284 million. Kozuszok said the brand’s potential can be fully realized within the Coca-Cola system.
“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, The Coca-Cola Company. “AdeS is a leading brand in its category and we are very excited to add it to our stills portfolio. This continues our successful joint venture partnerships with our Latin American bottling partners and brings more innovative offerings to our markets."
Once completed, the AdeS business will become part of the noncarbonated beverage platforms Coca-Cola FEMSA shares with The Coca-Cola Company in its franchise territories. In all other territories, The Coca-Cola Company will work with its local bottling partners to develop AdeS through similar noncarbonated beverage partnership arrangements.