Latham & Watkins Advises FIFCO in Its US$3.2 Billion Agreement to Sell Its Beverage, Food, and Retail Business to HEINEKEN
Florida Ice and Farm Company S.A. (FIFCO) has announced — via Material Event Disclosure — that it has signed a binding agreement to sell to HEINEKEN N.V. (HEINEKEN) the remaining 75% stake in Distribuidora La Florida S.A., in which HEINEKEN already holds a 25% interest. This includes FIFCO’s beverage, food, and retail operations in Costa Rica, Guatemala, El Salvador, and Honduras; its beverage operations in Mexico; stakes in Nicaragua’s leading beverage business, and stakes in beverage businesses in Panama. Total cash consideration paid will be approximately US$3.2 billion.
Latham & Watkins LLP is advising FIFCO in the transaction with a corporate deal team led by partners Tony Del Pino and Carlos Ardila, with associates Andres Medina-Jordan, Mapi Villanueva, and Jorge Hinzpeter with assistance from Catalina Ucros Tellez. Advice was also provided on tax matters by partner Eric Kamerman; on intellectual property matters by partner Jeff Tochner, with associate Sebastian Moss; and on regulatory matters by partner Jason Cruise.
About HEINEKEN
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the HEINEKEN® brand, the Group has a portfolio of more than 340 international, regional, local, and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through "Brew a Better World," sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants, and other production facilities in more than 70 countries.
About FIFCO
FIFCO is a Costa Rican company with over 117 years of trajectory in the beverage, food, retail, and hospitality sectors. With operations across Costa Rica, Central America, the Dominican Republic, Mexico, and the United States, FIFCO manages five production plants and 13 distribution centers, and exports to more than 10 countries worldwide. Its dynamic portfolio includes iconic brands such as Imperial, Pilsen, Bavaria, Adán y Eva, and Tropical, and it proudly partners with global leaders like PepsiCo, Diageo, Concha y Toro, and Marriott. FIFCO is recognized for its commitment to innovation, sustainability, and excellence, and leads the region with a world-class ESG model — being water positive, carbon positive, and zero waste.