By Sabela Ojea
Fomento Economico Mexicano, also known as FEMSA, has signed an agreement with BradyIFS, the distributor of janitorial, sanitation and foodservice disposables and products, to create a new distribution platform in the U.S.
The Mexico-based beverage and retail company on Tuesday said it will get about $1.7 billion in cash from the transaction, and retain an ownership stake of about 37% in the combined entity.
The remaining controlling stake will be owned by existing BradyIFS equity holders, the company said.
“The combined platform will bring together Envoy Solutions [distributor and solution provider] and BradyIFS in a highly complementary combination, positioned to serve and provide value to its customers and suppliers effectively and efficiently across the country,” FEMSA said.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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