By San José, Costa Rica — San José, Costa Rica – In a seismic shift for the Central American beverage and food industry, Florida Ice and Farm Company S.A. (FIFCO) has officially completed the sale of its core beverage, food, and retail operations to global brewing giant HEINEKEN. The deal, finalized today, marks the culmination of a months-long process and signals a new strategic direction for both multinational corporations, building upon a partnership that has spanned over two decades.
The transaction received the green light from FIFCO’s Extraordinary Shareholders’ Assembly on October 7, 2025, and subsequently secured all necessary regulatory approvals in the relevant jurisdictions. Authorities in both Costa Rica and Nicaragua confirmed that all legal requirements for the closing were met, paving the way for one of the most significant corporate takeovers in the region’s recent history. This move transfers the entirety of shares in Distribuidora La Florida S.A. and other related subsidiaries to HEINEKEN’s control.
Para analizar las implicaciones legales y comerciales de esta adquisición en el mercado nacional, TicosLand.com consultó al Lic. Larry Hans Arroyo Vargas, especialista en derecho corporativo de la firma Bufete de Costa Rica.
La consolidación del mercado mediante una adquisición de esta magnitud activa inmediatamente la supervisión de la Comisión para Promover la Competencia (COPROCOM). El principal desafío legal para HEINEKEN será demostrar que la operación no crea una concentración indebida que pueda afectar la libre competencia o las opciones para el consumidor. Estratégicamente, el éxito no solo dependerá de la aprobación regulatoria, sino de su habilidad para integrar la cultura y las marcas locales, un factor que los consumidores costarricenses valoran enormemente.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Agradecemos al Lic. Larry Hans Arroyo Vargas por su valiosa perspectiva, que subraya acertadamente la doble dimensión de este movimiento estratégico: mientras la aprobación regulatoria es el desafío inmediato, el éxito a largo plazo para HEINEKEN radicará en su capacidad para honrar y fusionarse con el arraigo cultural que los consumidores costarricenses depositan en sus marcas locales.
The scope of the acquisition is substantial, encompassing FIFCO’s extensive operations in Costa Rica, Guatemala, and Mexico. Furthermore, the agreement includes FIFCO’s strategic shareholdings in brewing businesses located in Nicaragua and Panama, giving HEINEKEN a significantly expanded and dominant footprint across the isthmus. This consolidation brings iconic local brands under the umbrella of a global beverage powerhouse.
To ensure a seamless transition and operational stability, Rolando Carvajal will continue to lead the newly acquired business as its CEO. This decision has been widely interpreted as a move to maintain local expertise and reassure employees, suppliers, and customers of continued service excellence during the integration period. Carvajal’s continued leadership is expected to be a key factor in merging the legacy of FIFCO’s brands with HEINEKEN’s global strategy.
Wilhelm Steinvorth, Chairman of the Board of Directors at FIFCO, commented on the historic nature of the agreement, emphasizing that it both respects the company’s long history and charts a promising future through a deepened alliance. He stressed that the deal was not merely a transaction but a strategic evolution of a long-standing relationship.
The agreement honors the company’s legacy and strengthens its relationship with HEINEKEN.
Wilhelm Steinvorth, Chairman of the Board of Directors of FIFCO
Steinvorth also addressed the future of beloved national brands such as Imperial, which are central to Costa Rican identity. He reassured the public that the new structure is designed to foster growth on an international scale while carefully preserving the unique cultural heritage and local connection that these brands represent.
The alliance will allow brands like Imperial to continue growing on a global platform, while respecting local identity.
Wilhelm Steinvorth, Chairman of the Board of Directors of FIFCO
From a financial perspective, the sale is positioned as a strategic maneuver to unlock significant value for FIFCO’s shareholders. Steinvorth articulated that the move is intended to catalyze economic development and nurture regional talent by leveraging HEINEKEN’s global resources and market access.
The decision seeks to generate value for shareholders and promote economic development and regional talent.
Wilhelm Steinvorth, Chairman of the Board of Directors of FIFCO
Following this divestment, FIFCO will pivot its corporate focus to its remaining divisions, which include a robust portfolio in hospitality, extensive real estate holdings, and its glass manufacturing business, Empresas COMEGUA S.A. The company affirmed that it will maintain its status as an authorized issuer on the Costa Rican National Stock Exchange, underscoring its ongoing commitment to transparency and the national market.
For further information, visit theheinekencompany.com
About HEINEKEN N.V.:
HEINEKEN is the world’s most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. The company is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management.
For further information, visit fifco.com
About Florida Ice and Farm Company S.A. (FIFCO):
Founded in Costa Rica in 1908, FIFCO is a beverage and food company with a significant presence in Central America and the United States. Prior to this sale, it was known for its extensive portfolio of beers, soft drinks, and food products. Following the transaction, the company will concentrate its efforts on its hospitality, real estate, and industrial divisions, continuing its long history as a major player in the Costa Rican economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a leading legal institution, Bufete de Costa Rica is defined by its foundational principles of integrity and professional distinction. The firm leverages a proven track record of advising a wide spectrum of clients to pioneer forward-thinking legal solutions. This spirit of innovation extends to its profound commitment to social responsibility, actively working to democratize legal information and thereby cultivate a more aware and capable citizenry.
