Heineken has secured a major regulatory approval in Costa Rica for its planned acquisition of beverage and retail assets owned by Florida Ice and Farm Company S.A. (FIFCO). 

The Dutch brewer said it has been formally notified that Costa Rica’s Antitrust Authority (COPROCOM) has approved the purchase of all FIFCO’s shares in Distribuidora La Florida S.A. and its related subsidiaries in the country.

The approval marks a significant milestone toward completing the transaction first announced on 22 September 2025, in which Heineken agreed to acquire FIFCO’s multi-category beverage portfolio and proximity retail operations across Central America. The deal builds on a nearly four-decade partnership between the two companies and is a cornerstone of Heineken’s EverGreen strategy, aimed at expanding its presence and accelerating growth in high-potential markets.

Under the agreement, Heineken will assume full ownership of Distribuidora La Florida, one of Costa Rica’s most prominent beverage and retail groups, whose portfolio includes the iconic Imperial beer, a broad range of soft drinks, and more than 300 Musmanni and Musi retail stores. The acquisition is expected to elevate Costa Rica into one of Heineken’s top five markets by operating profit.

The transaction stretches beyond Costa Rica. Heineken will also acquire the remaining 25% stake in HEINEKEN Panama, securing full control of the country’s fastest-growing brewer, and deepen its footprint in Nicaragua through an equal stake in that market’s leading beer and beyond-beer business. Additional assets in Mexico and Guatemala form part of the broader expansion, positioning Heineken as a dominant regional player with an extensive beverage, food, and retail network across Central America.

Heineken CEO Dolf van den Brink has called the integration a “transformative milestone,” praising FIFCO’s strong local brands, market expertise, and sustainability credentials. FIFCO’s Chairman Wilhelm Steinvorth said the partnership preserves FIFCO’s legacy while unlocking global growth opportunities for its flagship products.

The deal, valued at approximately US$3.2 billion, is expected to be immediately accretive to Heineken’s margins and earnings. The brewer anticipates around US$50 million in cost savings through operational synergies once the businesses are fully integrated.

While COPROCOM’s approval clears a major hurdle, Heineken said the closing of the acquisition remains contingent on additional regulatory sign-offs in other jurisdictions. The company will make further announcements as the process advances.