Mexico-based retail and beverage firm, FEMSA will convey its chain of OXXO comfort shops throughout the border following a $385 million cope with Tennessee-based fuel station chain Delek.
FEMSA introduced their acquisition of 249 DK comfort shops in an Aug. 1 press launch. The cash-free, debt-free buy features a small gas transportation fleet in addition to stock.
Roughly 90% of Delek’s DK branded comfort shops, are positioned in Texas, with two areas in Fredericksburg and others within the northern Hill Nation. The remaining shops are primarily positioned in New Mexico, with just a few areas in Arkansas.
“Importantly, [this deal] permits us to achieve a aggressive companion for ongoing and expanded retail gas gross sales,” Delek CEO Avigal Soreq acknowledged a press release. “We look ahead to constructing on this partnership with FEMSA in each the quick and long run.”
FEMSA, quick for Fomento Económico Mexicano S.A.B. de C.V., at present operates greater than 30,000 areas of its OXXO branded gas and retail chain in 11 international locations. This would be the first time OXXO has entered america in its 45 years of operation.
“At FEMSA, we have now a long-held ambition to enter the US comfort and mobility business, and this transaction represents the perfect method for us to take our first step on this compelling market,” José Antonio Fernández Garza-Lagüera, CEO of FEMSA retail operations, mentioned in a press release.
The deal is predicted to shut a while this yr.
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