Mexico's Coca-Cola Femsa buys Brazil's Spaipa in $1.855 bln deal

MEXICO CITY Sat Aug 31, 2013 4:04pm EDT

MEXICO CITY Aug 31 (Reuters) - Mexico's Coca-Cola Femsa, a joint venture between Coca-Cola Co and Mexican retail and bottling company Femsa, said on Saturday it acquired Brazil's Spaipa S.A. Industria Brasileira de Bebidas in a deal valued at $1.855 billion.

Coke Femsa, Latin America's largest Coke bottler, said the all-cash acquisition would increase its volume in Brazil by 40 percent. It said Spaipa generated net revenues of $905 million in the 12 months ended June 30, 2013.

The deal comes days aftere Coca Cola Femsa said it completed a separate all-cash purchase of Brazilian Coke bottler Companhia Fluminense de Refrigerantes, for which it agree in June to pay $448 million.