KOF Eyes Coke’s Philippines Bottler

Mexico’s Coca-Cola Femsa (KOF) has struck an exclusivity agreement with Coca-Cola to analyze the possible acquisition of a majority stake in Coca-Cola’s bottling operations in the Philippines. The deal is good for 12 months, KOF says, but does not guarantee that a transaction will occur. Officials at KOF and Coca-Cola could not immediately be reached for comment. The agreement comes as the Mexican bottler is working to consolidate its position in the Latin American soft-drink bottling business. Such an acquisition would mark its first move outside LatAm. KOF and competing Mexican Coke bottler Arca Continental have been purchasing independent bottlers in Mexico and others in Latin America in a buying spree that is expected to continue over the coming year.