Macay Holdings Inc. said acquiring the global licensing rights to RC Cola provides the company with a “global platform and foreign currency revenues” that will complement its peso-denominated operation.
The acquisition will also provide it “geographic and political/country risk diversification,” Macay told regulators.
This after the Yao-controlled firm announced early last month it is buying British Virgin Islands-incorporated RC Global Beverages Inc. (RCGBI), which holds the global licensing rights for RC Cola, except for United States, Mexico and Canada.
RCGBI is 100 percent beneficially owned by Mazy’s Capital Inc., a majority shareholder of Macay.
The company develops flavors and provides concentrates for customers in the different countries and has an unaudited asset value of $56 million, Macay earlier said.
Macay is buying RCGBI for $21.4 million in cash. It will also assume RCGBI’s $26 million debt. – Ruelle Castro
