• On September 22, FIFCO announced the binding purchase agreement to sell its beverage, food, and
  retail business to HEINEKEN.
• The closing of the transaction is subject to customary and applicable regulatory approvals

At the Extraordinary General Meeting convened by its Board of Directors, the shareholders of Florida Ice and Farm Company S.A. (FIFCO) approved by majority vote the sale to Heineken International B.V. (or an affiliated entity designated by it) of all the shares FIFCO owns in Distribuidora La Florida, S.A., and other subsidiaries and affiliates of FIFCO, as approved and recommended by the Board of Directors (the “Transaction”). There was an 81.68% participation of the total share capital. The result of the vote was as follows: Approved: 98.94%; Rejected: 0.10%; Abstained: 0.96%.

Following a motion by one of the shareholders, a majority vote was taken to endorse all actions taken and agreements made in relation to the Transaction by the Board of Directors, the CEO, and other company executives who participated in the negotiation process, as well as the signing of all documents related to the Transaction. The result of the vote was as follows: Approved: 98.94%; Rejected: 0.10%; Abstained: 0.96%.

The sale includes FIFCO’s beverage and food operations in Costa Rica, Guatemala, El Salvador, and Honduras, as well as its beverage operation in Mexico and interests in beverage businesses in Nicaragua and Panama, and the retail business in Costa Rica.

This decision marks a strategic milestone in FIFCO’s evolution and consolidates a relationship of more than 23 years with HEINEKEN, based on mutual trust, aligned values, and a shared vision of sustainable growth.

Integration into HEINEKEN’s global platform will enhance the capabilities of the units included, strengthen their brands, and open new opportunities for development. The multinational brewery has expressed its commitment to preserving the cultural identity, the legacy of FIFCO’s iconic brands, and the positive impact that the company has built in the region.

Agreement approved by majority vote

The Extraordinary General Meeting was held at Hotel Real Intercontinental, on second call at 10:00 a.m., respectively. The only item on the agenda was the presentation and vote on the sale proposal, approved and recommended by the Board of Directors.

“This Board of Directors is very satisfied with the agreements reached in this negotiation. The commitment of the Board of Directors of Florida Ice and Farm Company, S.A. has been and will always be to act with complete transparency toward our shareholders and achieve a positive return on their investment in FIFCO, which we believe has been achieved with this sale agreement to Heineken.  Likewise, given the magnitude of the investment, we are confident that this transaction represents a momentous event for Costa Rica, which will inject dynamism into our economy and also provide a significant economic benefit for our shareholders. Therefore, the Board of Directors of Florida Ice and Farm Company, S.A., recommends that this Assembly vote in favor of the transaction,” said Wilhelm Steinvorth, president of FIFCO, at the meeting.

Next steps

The closing of the transaction is subject to the corresponding regulatory approvals. During this transition process, FIFCO reaffirms its commitment to operational continuity and the well-being of its employees, partners, suppliers, and customers.