Grupo Empresarial Mirto Expands in Mexico with COFIDES Support
Deal News | Dec 09, 2024 | Cia Espanola de Financiacion d
Grupo Empresarial Mirto, a leading Spanish textile company, is set to enhance its footprint in Mexico with the aid of COFIDES, a state-owned Spanish company focused on supporting internationalization. Thanks to a €600,000 loan from COFIDES, Mirto plans to invest further in its product stock at the Palacio del Hierro shopping centers, continuing its model of effective stock management that has proven successful in Spain. This initiative marks the second collaboration between Mirto and COFIDES following previous support to develop shop-in-shop spaces in Mexico. The funding aligns with COFIDES' mission to bolster the presence of Spanish brands globally and contributes to more robust Spain-Mexico business relations. Mirto's CEO, Ricardo Fraguas Gadea, emphasizes the value of COFIDES' support in executing this international strategy.
Sectors
- Textile and Apparel
- Finance and Investment
Geography
- Spain – Grupo Empresarial Mirto is a Spanish company and COFIDES is a Spanish state-owned firm facilitating this expansion.
- Mexico – COFIDES supports Mirto's expansion into the Mexican market, indicating a significant focus on this geography.
Industry
- Textile and Apparel – Grupo Empresarial Mirto is a significant player within the textile and apparel industry, producing garments, including men's and women's fashion.
- Finance and Investment – COFIDES is a financial entity that provides investment and financing for international business expansions.
Financials
- 600,000 euros – Loan amount provided by COFIDES to Mirto for business expansion in Mexico.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grupo Empresarial Mirto | Target | Company | A Spanish textile company expanding its operations internationally, particularly in Mexico. |
| COFIDES | Financial Supporter | Company | A state-owned Spanish company providing financial support for internationalization of Spanish businesses. |
| Ricardo Fraguas Gadea | CEO of Mirto | Person | CEO of Grupo Empresarial Mirto, leading the expansion strategy in Mexico. |
| Miguel Ángel Ladero | CIO of COFIDES | Person | CIO of COFIDES, facilitating financial collaboration with Mirto. |