Benzinga | Nov 16, 2021 08:28AM EST

FEMSA's Envoy Solutions To Acquire Next-Gen Supply Group; Terms Not Disclosed

Fomento Econ?mico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB))))) announced today that Envoy Solutions, FEMSA's specialized distribution subsidiary in the United States, reached an agreement to acquire Next-Gen Supply Group Inc., ("Next-Gen"), an independent specialized distribution company based in Mansfield, Massachusetts. Next-Gen will expand Envoy?s footprint in the Northeast by including Massachusetts and Connecticut. This transaction represents another important step in FEMSA's strategic path to build a leading national distribution platform in the United States. Revenues of the acquired business for the last twelve months as of October 2021, were over US$ 90 million.



The transaction is subject to customary closing conditions and approvals and is expected to close during the fourth quarter of 2021.

BDO USA LLP acted as financial and tax advisor, and Munger, Tolles & Olson LLP acted as external legal counsel for FEMSA in connection with this transaction. Capstone Partners acted as exclusive financial advisor to Next-Gen Supply Group.