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     137  0 Kommentare BradyIFS and Envoy Solutions come together to create a compelling new platform

    MONTERREY, Mexico, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today that it has entered into definitive agreements with BradyIFS to create a new platform within the facility care, foodservice disposables, and packaging distribution industries in the United States. The combined platform will bring together Envoy Solutions LLC and BradyIFS in a highly complementary combination, positioned to serve and provide value to its customers and suppliers effectively and efficiently across the country.

    Transaction Highlights

    • Upon closing, FEMSA will receive approximately US$1.7 billion in cash and retain an ownership stake of approximately 37% in the combined entity, which is expected to have pro-forma revenues approaching US$5 billion.

    • For the purposes of this transaction, the Envoy Solutions valuation implies an unlevered double-digit annualized rate of return on the accumulated capital invested by FEMSA since entering this business in 2020.

    • Approximately 63% of the combined entity will be owned by existing BradyIFS equity holders led by Kelso & Company and its affiliate funds and including BradyIFS management; by funds managed by Warburg Pincus LLC; and by the current minority shareholders of Envoy Solutions.

    Transaction Rationale

    • The transaction will allow Envoy Solutions and BradyIFS to combine their strengths and complementary footprints to create a strong customer-focused platform to effectively provide its customers with high-value solutions, and its supplier partners with excellent market reach, delivering more products and solutions in more locations across the United States.

    FEMSA Forward and Strategic Update

    • This transaction allows the Company to implement FEMSA Forward with regards to Envoy Solutions while maximizing shareholder value, within a reasonable timeframe. Reaching this milestone was made possible by the tireless effort of the Envoy Solutions team. FEMSA will aim to contribute to the governance and continued value creation at the combined entity, mainly through FEMSA’s participation on the Board of Directors. FEMSA does not expect to contribute incremental capital to the combined entity going forward.
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    BradyIFS and Envoy Solutions come together to create a compelling new platform MONTERREY, Mexico, Aug. 29, 2023 (GLOBE NEWSWIRE) - Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today that it has entered into definitive agreements with BradyIFS to create a …