Unilever has announced the sale of its AdeS soy beverage business in Latin America to Coca-Cola FEMSA and The Coca Cola Company for $575 million.
Commenting on the deal, Unilever EVP Miguel Kozuszok said: “This sale is a step in reshaping our portfolio in Latin America to deliver sustainable growth for Unilever and enables us to sharpen our focus. AdeS is an iconic brand and we believe that its potential can be fully realized within the Coca-Cola system”.
Brian Smith, president of Coca-Cola in Latin America added: “The acquisition of AdeS marks another milestone for the Coca-Cola system in providing increased choice of nutritious and delicious products to our consumers. 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”.
The AdeS brand is currently present in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile and Colombia.