THE HAGUE: Coca-Cola and its Mexico-based bottling franchise Coca-Cola FEMSA have agreed to buy soy drinks maker AdeS from Unilever in a deal worth $575 million, Unilever said Wednesday.
"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," said Miguel Kozuszok, executive vice president of Latin America Unilever.
Coca-Cola said the acquisition would allow the iconic soda drinks maker to increase its "choice of nutritious and delicious products" as the company moves towards fulfilling demand for healthier, less sugary beverages.
Buying AdeS for some $575 million (515 million euros) "reinforces our non-carbonated beverage portfolio offer," added John Santa Maria, Chief Executive Officer of Coca-Cola FEMSA.
Unilever, a Dutch food and cosmetics giant based in the port city of Rotterdam, posted a 5.0 percent fall in 2015 profits with net profit down to $4.91 billion.
In 2014 Unilever had boosted net profits thanks to the major sale of North American activities of its Ragu and Bertolli pasta sauces, as well as the sale of dietary food brand SlimFast.
But earlier this year the company said consumer demand for the group's products, which include such brand names as Knorr soup, Dove beauty care items and Hellmann's mayonnaise, remained "fragile."
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