Coca-Cola Femsa has acquired Montevideo Refrescos (Monresa), a producer and distributor of Coca-Cola in Uruguay.

With this acquisition, Femsa is set to expand its footprint across 11 countries and extend its operations to the Philippines, Mexico, and South and Central America.

The acquisition deal was made with The Coca-Cola Company for $250.7m on a cash-free and debt-free basis.

“The integration of Monresa reaffirms our commitment to generating economic and social value for our shareholders and stakeholders.”

Coca-Cola Femsa CEO John Santa Maria said: “As part of our strategic framework and the consolidation of leadership in the global beverage market, the integration of Monresa reaffirms our commitment to generating economic and social value for our shareholders and stakeholders.”

Established in 1943, Monresa is a producer and distributor of Coca-Cola for the brand’s trademark beverages. It offers a wide portfolio of 169 brands to more than 396 million consumers daily.

With its 67 manufacturing plants and 344 distribution centres, Coca-Cola Femsa markets and sells approximately four billion unit cases a year.

In March this year, Coca-Cola Femsa announced plans to close its operations in Ciudad Altamirano, Mexico, to preserve the safety and security of its employees.

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During the announcement, the company said in a statement: “The current lack of the necessary conditions to efficiently and safely operate within this part of the State of Guerrero, as exemplified by the recent unjustified assault on one of its employees, led the company to make this decision.”

Based in Mexico, Coca-Cola Femsa is reported to be the largest coca-cola bottler in the world in terms of sales volume.