Arca To Buy Stake In Food Processor Grupo Herdez

Mexican soft drink bottler Embotelladoras Arca is to buy a non-controlling stake in family-owned, food processing company Grupo Herdez. Arca has agreed to pay $304 million to buy around 73% in Herdez through a capital increase in the holding company, giving it a 49% stake in that vehicle, and by buying 25% of the food processor’s shares through a tender offer. Monterrey-based Arca says the purchase is aimed at benefiting from the growth in the broader food industry.