Bavaria Closes Brisa Sale

Colombia beverage company Bavaria says it closed the sale of its Brisa bottled water brand to Coca-Cola Femsa and the Coca-Cola Company for $92m in cash. The deal, first announced in August, includes the Brisa brand and related inventories, but excludes real estate and Brisa’s operations in Panama. Bavaria says it will continue to sell and distribute Brisa until May and the transfer of assets will conclude in October. Bavaria intends to focus on the production and distribution of malt beverages and beers.