FEMSA completes acquisition of Valora
10 October 2022 12:32
Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) has completed its acquisition of Valora Holding AG. FEMSA’s wholly owned subsidiary Impulsora de Marcas e Intangibles currently holds 97.77 per cent of the share capital of the retail group that specializes in convenience concepts and own brands, announced the food and drink retailer headquartered in Monterrey, Mexico. With the remaining publicly held shares, it intends to initiate a squeeze-out procedure and request cancellation. FEMSA also plans to delist Valora shares from the SIX Swiss Exchange.
“We look forward to further expanding on Valora’s successful strategy with the continued support of Valora’s management and team members to jointly develop the European market leader in convenience stores and food service,” commented FEMSA CEO Daniel Alberto Rodríguez Cofré in the statement.
Valora CEO Michael Mueller sees the move as chance to “accelerate our growth-oriented strategy in the convenience store and food service business as well as boost our capacity for innovation and digitalization”.