|By Marketwired .||
|September 23, 2013 09:25 AM EDT||
MONTERREY, MEXICO -- (Marketwired) -- 09/23/13 -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX) (BMV: FEMSAUBD) (BMV: FEMSAUB) announced today that its retail subsidiary FEMSA Comercio has agreed to acquire an investment stake representing 80% of Doña Tota, a leading quick-service restaurant operator, with the founding shareholders staying as partners with the remaining 20%.
Founded in the state of Tamaulipas, Doña Tota currently operates 204 units across Mexico and 11 units in the United States (Texas).
FEMSA Comercio believes that it can contribute its significant expertise in the development of small-box retail formats to what is already a successful player in the quick-service restaurant industry.
In turn, this transaction brings relevant capabilities in the area of prepared food operation to FEMSA Comercio, while opening a compelling new avenue for growth. Doña Tota has built a strong brand and will continue to operate as a stand-alone format.
The transaction is pending customary regulatory approvals.
FEMSA is a leading company that participates in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world; and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world's leading brewers with operations in over 70 countries. In the retail industry it participates with FEMSA Comercio, operating various small-format chain stores, including OXXO, the largest and fastest-growing chain of stores in Latin America. All of which is supported by a Strategic Business area.