The company owned a "minority share" of the project.
Corporate Relations Director of Florida Ice & Farm CO. Inc. (Fifco), Gisela Sanchez, explained in a press release that: “‘In line with strategic thinking regarding controlling the projects in which the company invests, we will now have the advantage of having full control over the development of large lot in the northern sector of the Papagayo peninsula. "
Sanchez explained that, in exchange for its stake in the project, Florida received a concession area of 311 undeveloped acres in the north of the peninsula as well as two residential units located to the south", reported Nacion.com.
Source: Nacion.com
More on this topic
June 2009
Several factors have affected the brewery: the depreciation of the colon, the real estate crisis, the purchase of Kern’s and Pepsi, and the Draconian transportation law in Costa Rica.
“If you drink don’t drive, if you drive don’t drink.” The new transportation law of Costa Rica, with rigorous sanctions that could even include the seizure of vehicles for drinkers behind the wheel, has caused a reduction in the consumption of beer. This is added to the depreciation of the colon, which has generated losses due to the exchange rate, and a greater participation in the project Reserva Conchal that naturally has been affected by the real estate crisis.
April 2012
Since 2006 the company has been buying companies that make juices, beers, nectars and milk, firming up its plans to become a total beverage company.
Gisela Sanchez, director of corporate affairs for Florida Ice & Farm (Fifco), defines the company’s main objective: "Florida wants to become a total beverage company."
August 2009
Since entering the Chinese market in January, the Costa Rican brewer has expanded its reach to six provinces.
To date they have exported 50 containers, each one with 1.512 boxes of 24 bottles, reported Gisela Sánchez, company executive.
"The company [Florida Ice & Farm] entered China by signing an alliance with brewer Tsingtao and also with distribution company Powsun, one of the top dealers of that brand in the Asian country", reported Nacion.com.
June 2010
Florida Ice and Farm (Fifco), will invest the resources in 2011 to improve its hospitality infrastructure in Reserva Conchal.
The company seeks to boost the region’s development by investing in hotel infrastructure.
“Additionally, Fifco will try to sell 11 units of the residential project in 2010, by reducing their price in 30%”, reported Capitales.com.
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