FEMSA completes divestiture of its refrigeration and foodservice equipment operations to Mill Point Capital
FEMSA (NYSE: FMX) has successfully completed the previously announced divestiture of its refrigeration and foodservice equipment operations, Imbera and Torrey, to Mill Point Capital The transaction, which was initially disclosed on July 17, 2024, has been concluded for a total amount of 8,000 million pesos on a cash-free, debt-free basis.
FEMSA (NYSE: FMX) ha completato con successo la cessione precedentemente annunciata delle sue operazioni nel settore della refrigerazione e delle attrezzature per la ristorazione, Imbera e Torrey, a Mill Point Capital. La transazione, che era stata inizialmente comunicata il 17 luglio 2024, si è conclusa per un importo totale di 8.000 milioni di pesi su una base priva di debiti e contante.
FEMSA (NYSE: FMX) ha completado con éxito la desinversión previamente anunciada de sus operaciones de equipos de refrigeración y servicios de alimentos, Imbera y Torrey, a Mill Point Capital. La transacción, que se divulgó inicialmente el 17 de julio de 2024, se concluyó por un monto total de 8,000 millones de pesos sobre una base libre de efectivo y deudas.
FEMSA (NYSE: FMX)는 미리 발표된 냉장 및 식음료 장비 운영, Imbera와 Torrey의 Mill Point Capital에 대한 매각을 성공적으로 완료했습니다. 이 거래는 2024년 7월 17일에 처음 공개되었으며, 총 8,000백만 페소의 현금 무부채 기준으로 완료되었습니다.
FEMSA (NYSE: FMX) a réussi à finaliser la cession annoncée de ses opérations d'équipement de réfrigération et de services alimentaires, Imbera et Torrey, à Mill Point Capital. La transaction, initialement divulguée le 17 juillet 2024, a été conclue pour un montant total de 8 000 millions de pesos sur une base sans dette et sans liquidités.
FEMSA (NYSE: FMX) hat erfolgreich die zuvor angekündigte Veräußerung ihrer Operations im Bereich Kühl- und Gastronomieausstattung, Imbera und Torrey, an Mill Point Capital abgeschlossen. Die Transaktion, die zunächst am 17. Juli 2024 bekannt gegeben wurde, wurde für einen Gesamtbetrag von 8.000 Millionen Pesos auf einer schuldenfreien und bargeldfreien Basis abgeschlossen.
- Sale of Imbera and Torrey operations for 8,000 million pesos
- Strategic divestment strengthens balance sheet through cash inflow
- Successful completion of previously announced transaction
- Loss of revenue stream from refrigeration and foodservice equipment operations
Insights
The
The deal's valuation appears reasonable given the non-core nature of these operations. While Imbera and Torrey contributed to FEMSA's vertical integration, their divestiture should improve capital allocation efficiency and operational focus. The cash proceeds represent approximately
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
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.
FAQ
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