“But it's too early to say that we're out of the woods here on getting Mexico really on a growth trajectory. What we see is that's going to take a little bit more time in there.”

In context

“re recently. It'd be helpful to get a deeper update there. Henrique Braun: Dara, good for you. Look, Latin America continues to be a market that had very strong system, and we are coming off like years of strong growth. Most recently, you have seen that we have, over the last few quarters on a progressive improvement this quarter coming to flat, but also it's important to unpack that saying that Brazil continues to be pretty strong. Colombia and Chile also grew in the quarter. And then Mexico is also a big market, but it's on a progressive improvement, but not yet where we want it to be. There are macroeconomic issues in the country. And also our plans to really pivot and address that has been put in place in the last few quarters. We have seen some of the bright spots coming out of that. But it's too early to say that we're out of the woods here on getting Mexico really on a growth trajectory. What we see is that's going to take a little bit more time in there. And in the rest of Latin America, we have more momentum. So to your question about whether it's something more related to the whole region, it's not specific to that. It's more related to the country itself. Operator: Our next question comes from Filippo Falorni from Citi. Filippo Falorni: I wanted to ask about the refranchising efforts given this morning announcement on CCBA, which is clearly a very important steps in your goal of becoming the world's smallest bottler. I guess, can you walk us through what will be left after that transaction closes in terms of other territories to potentially refranchise? And then in terms of the margin implications from refranchising, a few years ago, you had a target of like a mid-30s operating margin target for the Coca-Cola Company. And it seems like”