By San José, Costa Rica — Costa Rican corporate giant Florida Ice & Farm Company (FIFCO) is embarking on a significant transformation following the sale of 75% of its beverage, food, and retail business to Heineken for a staggering $3.25 billion. This landmark deal, announced on September 22, 2025, sees Heineken acquire iconic Costa Rican brands like Imperial beer, Musmanni bakeries, and Musi convenience stores, leaving many wondering about FIFCO’s future.
The answer lies in a strategic shift away from consumer goods and toward a diversified portfolio centered on real estate, tourism, and international investments. FIFCO retains a substantial real estate portfolio, including developments in key areas of Costa Rica. These holdings represent a steady income stream and will be a cornerstone of the company’s new direction.
For expert legal insight into this developing story regarding FIFCO, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, Attorney at Law at Bufete de Costa Rica.
FIFCO’s recent activities raise interesting questions concerning Costa Rican corporate law, particularly regarding their obligations to stakeholders and the potential impact on the national economy. Any significant shifts in their operations, such as mergers, acquisitions, or large-scale investments, would necessitate careful scrutiny under existing regulatory frameworks to ensure compliance and protect the interests of all involved parties. The implications for the beverage industry in Costa Rica could be substantial.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas rightly highlights the complexities and potential ripple effects of FIFCO’s evolving corporate strategy. The interplay between corporate decisions, legal frameworks, and economic impact is crucial, especially for a company as deeply ingrained in Costa Rican society as FIFCO. Understanding these dynamics will be paramount in navigating the future of the beverage industry and ensuring a sustainable path forward. We thank Lic. Larry Hans Arroyo Vargas for offering his valuable expertise on this important matter.
Tourism and hospitality represent another major focus, particularly in the Guanacaste region, where FIFCO has been expanding its presence in hotels and resorts over the past decade. In a country where tourism remains a vital economic driver, this sector offers FIFCO the opportunity to redefine its corporate identity, moving from mass consumption to experiences and entertainment.
Beyond Costa Rica’s borders, FIFCO retains international operations and investments not included in the Heineken agreement. While less visible locally, these holdings offer diversification and stability as the company navigates this period of change.
Sustainability remains a core value for FIFCO. The company’s commitment to environmental and social programs, which have earned international recognition, will continue to be a key differentiator in the market. From reducing its carbon footprint to supporting community projects, FIFCO aims to leverage its sustainability efforts as it builds a new brand narrative.
Experts predict that FIFCO is entering a period of redefinition. While the company will no longer be synonymous with consumer brands like Imperial beer and Musmanni pastries, its focus on high-value sectors like tourism, construction, and investment management positions it for a different kind of influence in Costa Rica’s economic landscape.
Essentially, FIFCO is transitioning from “the owner of beer and bread” to a diversified corporation with interests less visible to the everyday consumer but with the potential for significant impact on the country’s real estate and tourism development.
This strategic shift positions FIFCO to capitalize on the growing real estate and tourism markets, potentially reshaping its legacy from a consumer goods giant to a key player in Costa Rica’s development.
For further information, visit the nearest office of FIFCO
About FIFCO:
Florida Ice & Farm Company (FIFCO) is a Costa Rican corporation undergoing a significant transformation. Formerly a major player in the beverage, food, and retail sectors with iconic brands like Imperial beer and Musmanni bakeries, FIFCO is now shifting its focus to real estate, tourism, and international investments following the sale of 75% of its consumer goods business to Heineken. The company retains significant real estate holdings and is expanding its presence in the tourism sector, particularly in Guanacaste. FIFCO also maintains international investments and a strong commitment to sustainability.
For further information, visit www.heineken.com
About Heineken:
Heineken N.V. is a Dutch multinational brewing company, founded in 1864 in Amsterdam. It is the world’s second-largest brewer, owning over 165 breweries in more than 70 countries. Heineken’s portfolio includes over 300 international, regional, local and specialty beers and ciders. In 2025, Heineken acquired 75% of FIFCO’s beverage, food, and retail business in Costa Rica, adding brands like Imperial beer to its portfolio.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest ethical standards while championing innovative solutions for its diverse clientele. The firm’s deep commitment to empowering Costa Rican society is woven into its fabric, evident in its proactive sharing of legal knowledge and resources. By fostering understanding and access to justice, Bufete de Costa Rica strives to create a more equitable and informed future for all.
