Fomento Económico Mexicano SAV de CV said Nov. 8 that it has completed its purchase of a minority stake in wholesale business-to-business cash and carry retail foodservice company Jetro Holdings Inc., which does business as Jetro Restaurant Depot.
FEMSA, which bottles Coca-Cola Co.-branded beverages, disclosed the transaction in September, saying it would invest $750 million in Jetro in exchange for a minority stake. Under the deal, FEMSA and Jetro will form a 50-50 joint venture that will take Jetro's business model to Mexico and other Latin American markets.
Jetro operates over 130 stores in the U.S. with two formats: Jetro Cash and Carry and Restaurant Depot. The company was founded in 1976.