trending Market Intelligence /marketintelligence/en/news-insights/trending/ppaikaolcbeipyminhweqq2 content esgSubNav
In This List

Mexico's FEMSA buys Ecuadorian drugstore operator

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector


Mexico's FEMSA buys Ecuadorian drugstore operator

Fomento Economico Mexicano SAB de CV, or FEMSA, on Sept. 24 agreed to buy Ecuadorian drugstore operator Corporación GPF in a bid to boost FEMSA's drugstore strategy in South America.

The company did not disclose financial details of the acquisition.

Socofar, a majority-owned subsidiary of FEMSA, executed the deal to buy Corporación GPF, which runs over 620 points of sale across Ecuador primarily under the Fybeca and SanaSana stores.

FEMSA said the move is in line with its drugstore strategy in South America, following its acquisition of Socofar in 2015.

The Mexican beverage company expects the deal to close during the first quarter of 2019, subject to customary regulatory approvals.