Coca-Cola To Acquire Unilever's Soy-based Beverage Business For $575M

Coca-Cola Co. and Coca-Cola FEMSA S.A.B. de C.V. announced Wednesday that they have entered into an agreement with Unilever PLC [s:ln: ulvr] to acquire Unilever's Latin American soy-based beverage business, AdeS, for $575 million. AdeS generated $284 million in revenue in 2015. After the transaction closes, AdeS will become part of the non-carbonated beverage platforms that Coca-Cola FEMSA shares with Coca-Cola in its franchise territories. Coca-Cola shares are down 0.3% in premarket trading, but up 9% for the past year. Coca-Cola FEMSA shares are up 15.8% for the past year. Unilever shares are up 10.7% for the past year. The S&P 500 is down 0.7% for the last 12 months.