Heineken to acquire FIFCO’s beverage and retail businesses for $3.2B

Heineken (HEINY) “announced it has signed a binding agreement to acquire the multi-category beverage portfolio and proximity retail business of the Florida Ice and Farm Company S.A., or FIFCO. This transaction builds on a long-standing partnership that began in 1986 and was strengthened in 2002 with the acquisition of a 25% stake in FIFCO’s beverages business in Costa Rica, Distribuidora La Florida. The deal further advances HEINEKEN’s EverGreen strategy, driving premiumisation, innovation, and growth across high-potential markets. Costa Rica will become one of HEINEKEN’s top 5 operating companies by operating profit, expanding its presence with a diverse portfolio of beverage brands – including the iconic Imperial beer – and a well-established retail network. Total cash consideration paid for the equity stakes acquired by HEINEKEN will be approximately $3.2B, implying an acquisition multiple of 11.6x EV/EBITDA based on 2024 results.”