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Pepsi bottler purchase.

PEPSI BOTTLER PURCHASE. Cia. de Bebidas das Americas, the world's fifth-biggest beer maker, will buy a controlling stake in a PepsiCo Inc. bottler in the Dominican Republic, its third acquisition in four months as it expands across Latin America, reports Bloomberg News (Feb. 12, 2004). Ambev (based in Sao Paulo, Brazil)will pay US$60 million to acquire a 51% stake in Embotelladora Dominicana CA. Ambev will increase the stake to 66% by contributing $10 million in cash and assets, including a plant to produce beer. Ambev is expanding from its home market to cover an area spanning Guatemala to Argentina in a bid to boost sales outside Brazil, where it controls about two thirds of beer sales. The company spent US$36 million in December to buy Ecuador's second- biggest brewer and $35 million in October to buy Embotelladora Rivera SA, Peru's biggest Pepsi bottler. "It's another great move because they are gaining a foothold in a good market, which they'll also be able to use as a base for export," said Tufic Salem, an analyst at Credit Suisse First Boston in Mexico City, who has an "outperform" rating on Ambev.
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Title Annotation:Dominican Republic
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 1, 2004
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