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FEMSA to Acquire Delek US Retail Assets for $385 Million

Aug 01, 2024•almost 2 years ago

Contract Type

agreement

MonterreyRetail

Description

FEMSA has entered into a definitive agreement to acquire 100% of the equity interests in the Delek subsidiaries that operate Delek’s retail business for cash consideration of $385 million. The acquisition includes the purchase of inventories and is anticipated to close sometime late in the third quarter or in the fourth quarter 2024. Delek US Retail is a leading convenience store chain with 249 corporate stores operating primarily in the southwestern United States.

Company Information

Company

FEMSA

Location

Monterrey, Nuevo León, Mexico

About

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 Division operating OXXO, a small-format store chain, OXXO Gas, a chain of retail service stations, and Valora, an operator of convenience and foodvenience formats present in 5 countries in Europe. 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 OXXO Premia, among other loyalty and 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. FEMSA also participates in the logistics and distribution industry through its Strategic Business Unit, which additionally provides point-of-sale refrigeration and plastic solutions to its business units and third-party clients. Across its business units, FEMSA has more than 350,000 employees in 18 countries.

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