FEMSA Completes Divestment of Refrigeration Operations to Mill Point Capital
Deal News | Nov 04, 2024 | Globenewswire
FEMSA, a leading company in retail and economic value creation across various sectors, announced the successful completion of the divestment of its refrigeration and foodservice equipment operations, Imbera and Torrey, to Mill Point Capital. The transaction, originally announced on July 17, 2024, was completed for a total of 8 billion pesos, net of cash and debt. FEMSA is known for its substantial presence in retail with several divisions including proximity stores and the health sector, as well as being the largest Coca-Cola bottler by sales volume. The divestment aligns with FEMSA's strategic focus on enhancing value and focusing on core operations. Mill Point Capital, a private equity firm based in New York, focuses on investments in mid-level companies across industrial and IT service sectors in North America. This acquisition marks Mill Point's commitment to strategic growth and operational improvements in its portfolio companies.
Sectors
- Private Equity
- Retail and Consumer Products
- Industrial and Manufacturing
Geography
- Mexico – FEMSA is a major business entity operating in and originating from Mexico.
- United States – Mill Point Capital is based in New York, and the acquisition affects the North American market.
Industry
- Private Equity – Mill Point Capital's involvement in acquiring FEMSA's operations indicates a private equity transaction.
- Retail and Consumer Products – FEMSA's divestment of its refrigeration and foodservice units aligns with its presence in the retail and consumer products sector.
- Industrial and Manufacturing – The operations being divested involve refrigeration and foodservice equipment, indicating relevance to industrial and manufacturing sectors.
Financials
- 8,000,000,000 pesos – The total transaction value for the divestment of FEMSA's refrigeration and foodservice operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) | Selling Company | Company | A prominent company involved in retail and beverages, operating Coca-Cola FEMSA and other businesses. |
| Mill Point Capital LLC | Buying Company | Company | A private equity firm focused on investments in industrial and IT services sectors. |
| Imbera and Torrey | Target Company | Company | FEMSA's refrigeration and foodservice equipment operations. |