Unilever has signed an agreement to sell the AdeS soy beverage business in Latin America for $575m to Coca Cola FEMSA and The Coca Cola Company.

Unilever EVP Latin America 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 realised within the Coca-Cola system.”

“This continues the successful joint venture partnerships with our Latin American bottling partners and brings more innovative offerings to our markets.”

The Coca-Cola Company Latin America group president Brian Smith said: “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.”

Coca-Cola FEMSA CEO John Santa Maria said: “AdeS complements and reinforces our non-carbonated beverage portfolio offer, providing our consumers with a wider range of choices.

“Together with our partner, The Coca-Cola Company, 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.”

Currently, the AdeS branded beverages is sold in Brazil, Mexico, Argentina, Uruguay, Paraguay, Bolivia, Chile, and Colombia.

This deal is subject to regulatory approvals as well as customary closing conditions.

The Coca Cola Company has been boosting its non-carbonated drinks lineup due to consumer shift towards healthier beverages.