Heineken to acquire FIFCO for $3.2B, boosting Central America presence
Dutch brewer Heineken will acquire Costa Rica’s Florida Ice and Farm Company (FIFCO) beverage and retail businesses for $3.2 billion in cash, significantly expanding its footprint in Central America.
The deal gives Heineken full control of Costa Rica’s century-old Imperial beer brand, a soft drink business with its own brands, and a PepsiCo bottling license, News.Az reports, citing Reuters.
“South and Central America are increasingly attractive for leading brewers like Heineken, especially as sales slow in Europe and the U.S.,” said CEO Dolf van den Brink. “This acquisition opens growth opportunities and new profit pools in the region.”
Heineken will buy the remaining 75% of Distribuidora La Florida, FIFCO’s beverage, food, and retail division, covering over 300 outlets in Costa Rica and operations in El Salvador, Guatemala, and Honduras. The transaction also includes 75% of Nicaragua Brewing Holding, the remaining 25% of Heineken Panama, and FIFCO’s non-beer business in Mexico.
Heineken has partnered with FIFCO since 1986 and has held a 25% stake in Distribuidora La Florida since 2002. Analysts, including James Edwardes Jones of RBC Capital, call the move strategically sound, though the price is high.
The deal is expected to close in the first half of 2026, boosting Heineken’s operating margin and earnings per share. Net debt is projected to rise by €3.2 billion ($3.77 billion) from €15.5 billion as of June.
FIFCO manages five production plants and 13 distribution centers across Central America, the Dominican Republic, Mexico, and the U.S., exporting to more than 10 countries.
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