Heineken acquired 75% of Florida Ice & Farm Co.'s beverage and retail operations for US$3.25 billion, strengthening its presence in Central America.

Target Company Overview

Florida Ice & Farm Co. (FIFCO) is a prominent player in the Central American beverage, food, and retail sectors. On September 22, 2025, FIFCO announced the sale of 75% of its operations to Dutch brewer Heineken for US$3.25 billion. This transaction includes significant assets such as well-known brands like Imperial, Pilsen, and Bavaria, in addition to non-alcoholic beverages and retail chains Musmanni and MUSI across Central America, Mexico, and Nicaragua. With this acquisition, Heineken now holds complete control over these operations, aiming to strengthen its foothold in the region.

Industry Overview in Central America

The Central American beverage industry has been experiencing substantial growth, driven by increasing consumer demand for both alcoholic and non-alcoholic beverages. Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua represent a diverse market with distinct preferences which have historically been dominated by a few key players. The beer sector, in particular, has seen significant changes, with brands such as Imperial and Pilsen gaining considerable market share and popularity.

This acquisition by Heineken comes at a time when the region shows promise for further expansion and the potential for increased competition among local and international brands. The soft drin