FEMSA completes divestiture of its refrigeration and foodservice equipment operations to Mill Point Capital
November 04 2024 - 8:17AM
UK Regulatory
FEMSA completes divestiture of its refrigeration and foodservice
equipment operations to Mill Point Capital
MONTERREY, Mexico, Nov. 04, 2024 (GLOBE
NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or
the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today
the successful closing of its previously disclosed divestiture on
July 17, 2024, with Mill Point Capital LLC, of its refrigeration
and foodservice equipment operations, Imbera and Torrey, for a
total amount of $8,000 million pesos, on a cash-free, debt-free
basis.
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 Mill Point Capital
LLC
Mill Point Capital LLC is a private equity firm focused on control
investments in lower-middle market companies across the Business
Services, Industrials and IT Services sectors throughout North
America. Mill Point’s experienced team of investors, Executive
Partners and Functional Experts seek portfolio company value
enhancement through rigorous implementation of transformative
strategic initiatives and operational improvements. Mill Point is
based in New York, NY. For more information, please
visit www.millpoint.com.
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