FEMSA Announces Acquisition of Doña Tota
September 23 2013 - 9:25AM
Marketwired
Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX)
(BMV: FEMSAUBD) (BMV: FEMSAUB) announced today that its retail
subsidiary FEMSA Comercio has agreed to acquire an investment stake
representing 80% of Doña Tota, a leading quick-service restaurant
operator, with the founding shareholders staying as partners with
the remaining 20%.
Founded in the state of Tamaulipas, Doña Tota currently operates
204 units across Mexico and 11 units in the United States
(Texas).
FEMSA Comercio believes that it can contribute its significant
expertise in the development of small-box retail formats to what is
already a successful player in the quick-service restaurant
industry.
In turn, this transaction brings relevant capabilities in the
area of prepared food operation to FEMSA Comercio, while opening a
compelling new avenue for growth. Doña Tota has built a strong
brand and will continue to operate as a stand-alone format.
The transaction is pending customary regulatory approvals.
FEMSA is a leading company that participates in the beverage
industry through Coca-Cola FEMSA, the largest franchise bottler of
Coca-Cola products in the world; and in the beer industry, through
its ownership of the second largest equity stake in Heineken, one
of the world's leading brewers with operations in over 70
countries. In the retail industry it participates with FEMSA
Comercio, operating various small-format chain stores, including
OXXO, the largest and fastest-growing chain of stores in Latin
America. All of which is supported by a Strategic Business
area.
Media Contact: FEMSA Servicios SA de CV (52) 81-8328-6046 Email
Contact www.femsa.com Investor Contact: (52) 81-8328-6167 Email
Contact www.femsa.com/investor
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