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Coke-backed Mexico juice company in dairy firm tie-up
MONTERREY, July 4 |
MONTERREY, July 4 (Reuters) - Mexican juice company Jugos del Valle, part-owned by Coca Cola Co, said on Wednesday it agreed to a venture with local dairy-products company Santa Clara for an undisclosed amount.
The exact nature of the agreement is unclear, and Jugos del Valle did not provide more details to Reuters in an emailed statement.
The tie-up will be discussed by Mexico's Federal Competition Commission on Thursday, the watchdog said on its website.
Jugos del Valle's Mexican operations are joint-owned by Coke , Mexico's Coca Cola Femsa and other Mexican Coke bottlers.
The deal would give Coke Femsa, the largest Coke bottler in Latin America, exposure to Mexico's dairy market.
The cash-rich bottler has been on a buying spree in the last year. In March 2011 it acquired a Panama dairy company.
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