Wide-Moat Arca Poised To Tap Beverage Volume Tailwinds in Latin America; US Is No Longer a Drag
We award a wide moat to Arca Continental. We think brand intangibles from its status as a top five bottler to wide-moat Coca-Cola, coupled with cost advantages given its large manufacturing and distribution scale, should support the firm’s competitive standing and excess investment returns for more than 20 years.