KOF Eyes Panama’s Industrias Lacteas

Mexico-based Coca-Cola bottler Coca-Cola FEMSA (KOF) says in a regulatory filing that it could acquire Panama’s Grupo Industrias Lacteas, the largest milk buyer in the country. The price is not disclosed, although Panama media say KOF could pay upwards of $200m. KOF says the acquisition will allow it to enter the milk and dairy products segment. Lacteas leads the dairy segment in Panama, with 3 manufacturing plants and almost 1,800 employees, according to KOF. The deal is subject to completion of due diligence and government authorizations. Company officials could not be reached for comment.