We are advising Heineken on the transaction

Davis Polk is advising Heineken on its $3.2 billion acquisition of Florida Ice and Farm Company (FIFCO)’s multi-category beverage portfolio and proximity retail business. The portfolio includes FIFCO’s 75% stake in Distribuidora la Florida, 75% stake in Nicaragua Brewing Holding (which owns a 49.85% indirect stake in Compañía Cervecera de Nicaragua), 25% interest in Brewery Panama (Baru) and 100% stake in FIFCO Mexico. Following completion, Heineken will own 100% of Distribuidora la Florida, Brewery Panama and FIFCO Mexico, as well as 49.85% of Compañía Cervecera de Nicaragua. The transaction, subject to regulatory and shareholder approvals, is expected to close in the first half of 2026.

Heineken is the world’s pioneering beer company. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken brand, the group has a portfolio of more than 340 international, regional, local and specialty beers and ciders.

FIFCO is a Costa Rican company with over 117 years of trajectory in the beverage, food, retail and hospitality sectors. With operations across Costa Rica, Central America, the Dominican Republic, Mexico and the United States, FIFCO manages five production plants and 13 distribution centers, and exports to more than 10 countries worldwide. Its dynamic portfolio includes iconic brands such as Imperial, Pilsen, Bavaria, Adán y Eva and Tropical, and it proudly partners with global leaders like PepsiCo, Diageo, Concha y Toro and Marriott.

The Davis Polk corporate team includes partners Daniel Brass and Louis L. Goldberg and counsel Jack Gordge. Partner Michael Mollerus and associate Shmuel Dov Sussman are providing tax advice. Partner Pritesh P. Shah and counsel Yana Kipnis are providing intellectual property advice. Partner Veronica M. Wissel is providing executive compensation advice. All members of the Davis Polk team are based in the New York office.

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