FEMSA Takes Major Leap in Strategic Restructuring
In a significant move, FEMSA has finalized the sale of its plastics solutions operations to AMMI, a prominent affiliate of Milenio Capital, for a substantial 3.16 billion pesos ($153.5 million). This transaction marks a crucial step in the implementation of FEMSA’s ambitious Forward plan, unveiled in February 2023.
A Strategic Partnership
The deal, which was agreed upon on October 28, 2024, sees FEMSA divesting its plastics operations on a cash-free, debt-free basis. AMMI, a US-based corporation with a rich 59-year history in the food and beverage industry, is poised to leverage its expertise to drive growth in the sector.
AMMI’s Diversified Portfolio
AMMI boasts an impressive portfolio of subsidiaries, including PLIHSA Crown Caps and PLIHSA Plastic Injection, which specialize in sustainable plastic packaging and crown caps, respectively. The company has set its sights on achieving carbon neutrality by 2030, underscoring its commitment to environmental sustainability. Additionally, AMMI’s Millfoods, a non-genetically modified organism corn production plant in Mexico, serves various sectors and exports to 180 countries, demonstrating the company’s extensive global reach.
FEMSA’s Diversified Business Units
On the other hand, FEMSA is renowned for operating OXXO, a popular chain of small-format stores. In the beverage sector, it operates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products globally by volume. With a workforce of over 392,000 people across 18 countries, FEMSA is a significant player in the industry.
A New Chapter for FEMSA
This transaction marks a significant milestone in FEMSA’s ongoing restructuring efforts, as the company continues to focus on its core business units. With the divestiture of its plastics solutions operations, FEMSA is poised to unlock new opportunities for growth and expansion.
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