Coca-Cola acquires Topo Chico brand for US$ 220 million
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Arca Continental, S.A.B. de C.V., the second-largest Coca-Cola bottler in Latin America, announced that it finalized the transfer of rights to Topo Chico brand mineral water in the U.S. to The Coca-Cola Company for US$ 220 million in order to expand and strengthen the national presence of these products.
“It is highly satisfying for us to continue expanding the legacy and authenticity of Topo Chico Mineral Water on an international scale through this agreement, which will further enhance its presence in the U.S., adding tremendous value to the country's product portfolio", stated Manuel L. Barragan Morales, Chairman of the Board of Directors of Arca Continental.
“In this new stage of working together with Coca-Cola, we will continue to bottle Topo Chico Mineral Water with the highest quality standards at the original plant in Monterrey where it has been produced for over 120 years, reinforcing the alliance between our two companies", added Francisco Garza Egloff, Chief Executive Officer of Arca Continental.
Arca Continental has been exporting Topo Chico mineral water for more than 20 years to at least 30 states in the U.S. Exports of the brand already represent 30% of the total volume of the beverage and has more than 65% market share in the category of imported mineral waters in supermarket in the southeast, including Texas, Oklahoma, Louisiana, and Arkansas.