Dutch beer brewer The HEINEKEN Company 🇳🇱 will buy Costa Rica’s FIFCO beverage & retail businesses for US$3.2 Billion, it announced at the end of September. The acquisition of Florida Ice and Farm Company (FIFCO) will boost Heineken’s position in Central America and gives it ownership of a multi-category portfolio.
The agreement involves the acquisition of 75% of Distribuidora La Florida in Costa Rica 🇨🇷, which includes the iconic beer brand Imperial, a large soft drink business, a PepsiCo bottling license and more than 300 retail outlets in Costa Rica (Musmanni & Musi).
With the transaction Heineken will also acquire the remaining 25% of HEINEKEN Panamá 🇵🇦, obtaining full ownership of the country’s fastest-growing brewer with a CAGR of approximately 20% (2019-2024).
In addition, it also includes a 75% stake in the Nicaragua Brewing Holding, which indirectly owns 49.85% of CompañÃa Cervecera de Nicaragua 🇳🇮, as well as 100% of FIFCO’s beyond beer operations in Mexico 🇲🇽 and diversified food and beverage businesses in Guatemala 🇬🇹.
When the agreement is finalized, Heineken and its affiliates will own 100% of Distribuidora La Florida, Heineken Panama, and FIFCO Mexico, and will retain 49.85% of CompañÃa Cervecera de Nicaragua.
The transaction is expected to be completed in H1 2026. Completion requires approval regulatory authorities and the general shareholders’ meeting of FIFCO. The transaction has already been approved by FIFCO’s board of directors, which includes representatives of FIFCO’s key shareholders.