The transaction will allow Grupo Modelo to focus on its core business of producing, distributing and selling beer.
“The negotiation was a success, as both parties reached their objectives,” said Ricardo Tadeu, CEO of Grupo Modelo. “We will continue to develop strong bonds with Circulo K and they will continue to be one of our most important clients.”
With the transaction, Circulo K becomes one of the main players in the convenience store market in the country, with the possibility of taking advantage of Extra stores’ platform to extend its growth across the country.
The transaction is subject to the approval of the Mexico’s Federal Competition Commission. Terms of the agreement have not been disclosed.
Source: Grupo Modelo
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