MEXICO CITY--Coca-Cola Femsa SAB (KOF), the world's largest franchise Coke bottler by volume, said Thursday it bought Uruguay's Montevideo Refrescos from the Coca-Cola Co. (KO) in an all-cash transaction valued at $250.7 million.

The Uruguayan concern, known as Monresa, is the exclusive bottler and distributor of Coca-Cola brands in the South American country, serving a market of 3.4 million people through 26,000 points of sale, Coca-Cola Femsa said in a release.

The addition of Uruguay brings to 11 the number of countries where Mexico City-based Coca-Cola Femsa operates.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

June 28, 2018 18:04 ET (22:04 GMT)