The Mexican bottler and retailer FEMSA announced Tuesday that its distribution subsidiary Envoy Solutions reached an agreement to buy the similar Next-Gen Supply Group, located in Massachusetts, adding one more firm to the list of acquisitions in recent months in the United States.
The company said in a statement that the transaction represents “another important step in FEMSA’s strategy to build a leading national distribution platform in the United States” and that as of October 2021, Next-Gen’s revenue for the last twelve months was over $ 90 million.
FEMSA added that the operation is subject to customary closing conditions and authorizations and is expected to be completed in the fourth quarter of 2021. The Mexican firm has announced in recent months the purchase of Penn Jersey Paper and Daycon Products in the United States.
Reference-www.eleconomista.com.mx