FEMSA announces agreement with TRAXIÓN to divest certain of FEMSA’s logistics operations
October 10 2024 - 9:10AM
UK Regulatory
FEMSA announces agreement with TRAXIÓN to divest certain of
FEMSA’s logistics operations
MONTERREY, Mexico, Oct. 10, 2024 (GLOBE
NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or
the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced it has
reached a definitive agreement with Grupo Traxión, S.A.B. de C.V
(BMV: TRAXIONA), a leading transportation and logistics company
based in Mexico, to divest certain of FEMSA’s logistics operations
doing business as Solistica. The transaction includes FEMSA’s
transportation management operations in Mexico, as well as its
contract logistics operations in Mexico, Colombia and Brazil. The
transaction does not include FEMSA’s LTL (less-than-truckload)
operations in Brazil.
Total consideration for this transaction will be
of approximately $4,060 million Mexican pesos, on a cash-free,
debt-free basis.
This transaction represents an additional step
in the continued execution of the FEMSA Forward plan that was
communicated in February of 2023. The transaction is subject to
regulatory approvals and other customary conditions and is expected
to close in the following months.
About FEMSA
FEMSA is a company that creates economic and social value through
companies and institutions and strives to be the best employer and
neighbor to the communities in which it operates. It participates
in the retail industry through a Proximity Americas Division
operating OXXO, a small-format store chain, and other related
retail formats, and Proximity Europe which includes Valora, our
European retail unit which operates convenience and foodvenience
formats. In the retail industry it also participates though a
Health Division, which includes drugstores and related activities
and Digital@FEMSA, which includes Spin by OXXO and Spin Premia,
among other digital financial services initiatives. In the beverage
industry, it participates through Coca-Cola FEMSA, the largest
franchise bottler of Coca-Cola products in the world by volume.
Across its business units, FEMSA has more than 392,000 employees in
18 countries. FEMSA is a member of the Dow Jones Sustainability
MILA Pacific Alliance, the FTSE4Good Emerging Index and the Mexican
Stock Exchange Sustainability Index: S&P/BMV Total México ESG,
among other indexes that evaluate its sustainability
performance.
About TRAXIÓN
TRAXIÓN is the leading transportation and logistics company in
Mexico. It offers a one-stop solution through the broadest and most
diverse service portfolio in the country. TRAXIÓN’s platform
operates three main business segments: Mobility of Cargo, Logistics
and Technology, and Mobility of Personnel. The Company has 10
highly recognized brands for their leadership in different sector
niches. TRAXIÓN was founded in 2011 and ended the 2Q24 with an
average fleet of 11,043 power units, 709,998 square meters of 3PL
logistic warehousing space, national reach, more than 1,300
clients, and over 22,000 employees. TRAXIÓN’s most important
competitive advantages include: an experienced and committed
management team, the use of the latest technology, being the only
consolidator in a highly fragmented industry and the only
institutional company in a sector dominated by family-owned
companies, a diverse portfolio comprised of premium services,
long-term partnerships with clients and suppliers, and an
anticipated market outlook.
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