FEMSA Completes Divestiture of Imbera and Torrey to Mill Point Capital

Deal News | Nov 04, 2024 | Globenewswire

FEMSA Completes Divestiture of Imbera and Torrey to Mill Point Capital

Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) has announced the completion of the divestiture of its refrigeration and foodservice equipment operations, specifically the businesses Imbera and Torrey, to Mill Point Capital LLC. The transaction was agreed for a total consideration of $8,000 million pesos. FEMSA has a diversified presence in the retail and beverage industries, operating well-known brands such as OXXO and Coca-Cola FEMSA. The company continues to create economic and social value and is a major player in the sustainability arena. Mill Point Capital, a New York-based private equity firm, focuses on investments in the lower-middle market across sectors in North America, emphasizing strategic initiatives and operational improvements for portfolio companies.

Sectors

  • Retail Industry
  • Beverage Industry
  • Private Equity

Geography

  • Mexico – FEMSA is a prominent Mexican company with a significant impact on the local economy.
  • United States – Mill Point Capital, the acquiring firm, is based in New York, highlighting its involvement in the transaction.

Industry

  • Retail Industry – Relevant as FEMSA is a major participant in the retail sector through brands like OXXO and Valora.
  • Beverage Industry – Pertinent due to FEMSA's significant operations in the beverage market, specifically with Coca-Cola FEMSA.
  • Private Equity – The article involves a divestiture transaction facilitated by a private equity firm, Mill Point Capital.

Financials

  • 8,000 million pesos – The total sale price for the divested assets, Imbera and Torrey, on a cash-free, debt-free basis.

Participants

NameRoleTypeDescription
Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA)Selling CompanyCompanyA diversified conglomerate based in Mexico, engaging in retail and beverage industries.
Mill Point Capital LLCBidding CompanyCompanyA private equity firm based in New York, focusing on control investments in lower-middle market companies.
Imbera and TorreyTarget CompanyCompaniesRefrigeration and foodservice equipment operations units of FEMSA, sold to Mill Point Capital.