Coca-Cola to acquire Unilever's AdeS business for $575m

Bottling giant Coca-Cola Co and Mexico's Coca-Cola Femsa SAB said they have agreed to buy Unilever's AdeS soy-based beverage business for about $575m.

The boards of all three companies had approved the deal.

The deal expands Coca-Cola's sales of non-soda drinks and at the same will boost its business in Latin America.

AdeS was founded in Argentina in 1988 and sell drinks that are a blend of soy and fruit juice. It is available in Brazil, Mexixo, Argentina, Uruguay, Paraguay, Bolivia, Chile and Colombia.