26 September 2025

Florida Ice and Farm Company (FIFCO) agreed a US$3.25bn deal with Heineken to sell the remaining 75% of its stake in Distribuidora La Florida SA. This will include food and beverage operations in Costa Rica and Guatemala, a beverage business in Mexico and stakes in beer companies in Nicaragua and Panama. FIFCO México SA, Nicaraguan Brewing Holding (NBH) SA,  Inversiones Cerveceras Centroamericanas SA (INCECA) Compañía Cervecera de Nicaragua and Cervecería Panamá SA are the beverage businesses at stake. It also includes the Musmanni bakery franchise and MUSI convenience store chain. The Dutch giants have held a 25% stake in FIFCO since 2002. 

Source: Central America Briefing | Vol 13, Issue 17