RIO DE JANEIRO: Coca-Cola, the US soft drinks giant, is set to invest some $5.8 billion (€3.9bn; £3.5bn) in Brazil over the five years to 2014, as it tries to enhance its presence in what is regarded as a key future growth market.
The American company has been highly active in rapidly-developing economies like India and China in the recent past, and has outlined plans to direct considerable resources to these areas going forward.
In a similar vein, it will now increase its outlay in Brazil by some 75% when compared with the total of $3.3bn which it allocated to the South American country over the period from 2005 to 2009.
Muhtar Kent, president/ceo of Coca-Cola, said "Brazil is one of the biggest markets for Coca Cola in the world. In the last 25 years we saw the volume of our sales in Brazil expand by about 50 times."
The multinational firm's other current objectives in Latin America include launching a new brand, Matte Granel Organico, an organic tea that is argued to be the first product of its kind in the region.
Brazil will host the FIFA World Cup in 2014, and the Olympic Games in 2016, and these events are expected to encourage large numbers of companies to heighten their activity in the BRIC nation.
Data sourced from Reuters; additional content by Warc staff