M&A Newsletter — August 2024

Mexico's Fomento Económico Mexicano S.A. (MEX: FEMSA) reached a definitive agreement to acquire U.S.-based Delek US Holdings, operator of a convenience-store chain in Texas, for USD $385.00 million.

Mexico's CEMEX, a producer of various construction materials headquartered in Monterrey, announced the sale of its operations in the Dominican Republic for USD $950.00 million. Should the sale be completed, the proceeds would be used to consolidate the firm's presence in the United States.

Mexico's Fibra Prologis, a real estate investment trust, would be reaching a definitive agreement with Terrafina to acquire a stake of at least 77%, for an amount of approximately MXN 11,800.00 million.

Mexico's Alsea, a multinational restaurant-chain holding company, announced the sale of 54 Burger King branches in Spain. The potential buyer will be Burger King España.

Mexico's Holding del Golfo, operator of a large number of franchises in the food industry based in Tabasco, reached a definitive agreement with Arpa Capital to sell all of its shares for an undisclosed amount.

Mexico's Fibra EDUCA, a real estate investment trust, acquired two educational centers in the State of Mexico, two in Coahuila and one in Tamaulipas, for an undisclosed amount.

Mexico's Cemix, a producer of coatings and waterproofing materials headquartered in Monterrey, reached a definitive agreement to sell all of its shares to France's Saint-Gobain in a transaction valued at USD $815.00 million.

Mexico's Finsus, a Sociedad Financiera Popular (sofipo) based in Mexico City, reached a definitive agreement to acquire Pulpi, a payroll-management platform, for MXN $230.00 million.

Mexico's ANT Maga, a surety-services and legal-advisory provider based in Mexico City, reached a definitive agreement to be acquired by XS Global. The transaction amount was not disclosed.

Mexico's E-coordina, a business-management software developer based in Mexico City, reached a definitive agreement to be acquired by Grupo Ctaima, through its financial sponsor ALZA Capital Partners, for an undisclosed amount.

Mexico's Coppel, owner of department stores under the same name, reached a definitive agreement to acquire a stake in Hágalo Home Center for an undisclosed amount.

A 21,000-square-meter manufacturing plant located in Nogales was acquired by an undisclosed investor for an undisclosed amount.

U.S.-based Escalade, a sporting-goods manufacturer, reached a definitive agreement to sell its facilities in Rosarito, Baja California, for an undisclosed amount.

U.S.-based Agrovision, a global fresh-produce provider, closed a financing round of USD $100.00 million with Aliment Capital, WP Global Partners, Avenue Capital Group and other undisclosed investors.

Mexico's Altscore, a developer of a credit-analytics platform based in Mexico City, closed a financing round of USD $10.31 million with undisclosed investors.

Mexico's Nufi, an identity-validation developer based in Monterrey, closed a financing round for an undisclosed amount with Magma Partners.

Mexico's The Phone Case Store, a mobile-phone case and cover provider based in Mexico City, closed a financing round for an undisclosed amount with Firwood Capital.

Mexico's Widu, a developer of an environmental-care application based in Mexico City, closed a financing round for an undisclosed amount with Ventive.

Mexico's BUO, an operator of an employee-analytics platform based in Mexico City, closed a seed-capital financing round of USD $4.33 million with DILA Capital and other undisclosed investors.

Xtraordinary Venture Partners, a private-equity firm and startup-focused investment fund based in Monterrey, reached a definitive agreement with an undisclosed investor to sell a stake in Mexico's Heru, a developer of an invoice and tax management platform based in Mexico City.

Mexico's Aviva, an operator of an online banking platform based in Mexico City, closed a seed-capital funding round of USD $5.50 million with Krealo and other undisclosed investors.

Mexico's Stori, a "digital-only bank" or neobank that offers credit cards to users with no credit history, closed a funding round of USD $105.00 million in equity and approximately USD $107.00 million in debt, in a transaction with undisclosed investors.

Mexico's Glisco Partners, a private-equity firm based in Mexico City, is reportedly leading a funding round in Chile's Wild Foods, for an amount of USD 25.00 million.

Mexico's Veikul, an operator of a vehicle rental services platform based in Monterrey, closed a debt-and-equity funding round of USD $3.00 million with First Check Ventures, Grupo Autofin Monterrey and other undisclosed investors.

Mexico's Nufi, an operator of an identity-validation platform based in Monterrey, closed a funding round for an undisclosed amount with Semilla Ventures, Magma Partners and Ganas Ventures.

El Salvador's Ábaco Capital, a developer of financial management software for businesses, closed a seed-capital funding round of USD $4.00 million with Cacao Capital, Cariaco and Innogen Capital Ventures.

La compañía mexicana Sistema.bio, un fabricante de energías renovables con desperdicio orgánico de granjas basada en la Ciudad de México, cerró una ronda de financiamiento por USD $4.25 millones en deuda convertible, con inversionistas no revelados.

La compañía mexicana MonitorApp, un desarrollador de software industrial basado en Guanajuato, cerró una ronda de financiamiento mezanine por USD $ 1.75 millones.

La compañía estadounidense General Logistics Systems, un proveedor de servicios de paquetería, llegó a un acuerdo definitivo para ser adquirida por DC logistics, a través de sus patrocinadores financieros ALZA Capital Partners y Bonsai Capital, por un monto no revelado. La transacción fue una compra apalancada (LBO).

Mexico's Contecon Manzanillo, a port logistics-services operator based in Colima, announced the expansion of its facilities following an investment of USD $300.00 million, as part of its financing plans.

La compañía Almacenadora Afirme (MEX: AFIRALM) llevó a cabo la colocación de certificados bursátiles de corto plazo por MXN $2,976.34 millones, en la Bolsa Mexicana de Valores (BMV) a través de Casa de Bolsa Base.

La compañía Arrendadora Afirme (MEX: AFIRMAR) llevó a cabo la colocación de certificados bursátiles de corto plazo por MXN $533.16 millones en la Bolsa Mexicana de Valores (BMV) a través de Casa de Bolsa Base.

La compañía Factoraje Afirme (MEX: AFIRFAC) llevó a cabo la colocación de certificados bursátiles de corto plazo por MXN $39.00 millones en la Bolsa Mexicana de Valores (BMV) a través de Casa de Bolsa Base.

La compañía Financiera Bepensa (MEX:FINBE) llevó a cabo la colocación de certificados bursátiles de corto plazo por MXN $1,075.83 millones en la Bolsa Mexicana de Valores (BMV) a través de las casas de bolsa Banorte e Intercam.

La compañía Grupo Minsa (MEX:MINSAB) llevó a cabo la colocación de certificados bursátiles de corto plazo por MXN $100.00 millones en la Bolsa Mexicana de Valores (BMV) a través de las casas de bolsa Actinver, Banorte e Intercam.

Arrendadora Actinver (MEX: ARREACT) carried out the placement of short-term market securities for MXN $1,120.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Comisión Federal de Electricidad (CFE) carried out the placement of short-term market securities for MXN $1,407.62 million on the Bolsa Mexicana de Valores (BMV) through Inverlat and BBVA Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) carried out the placement of short-term market securities for MXN $166.80 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

América Móvil (MEX: AMX) carried out the placement of short-term market securities for MXN $2,395,313 million through Casa de Bolsa BBVA, Inbursa and Inverlat Casa de Bolsa.

Grupo Financiero Inbursa (MEX: GFINBURO) carried out the placement of short-term market securities for MXN $10,000.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage firms HSBC and Inbursa.

Minera Frisco (MEX: MFRISCOA-1) carried out the placement of short-term market securities for MXN $16,000.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage firm Inbursa.

Ford Credit de México (MEX: FORD) carried out the placement of short-term market securities for MXN $3,555.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities for MXN $2,752.18 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Fondo Especial de Financiamiento (BANXICO) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $9,997.38 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $600.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

NR Finance (MEX: NRF) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,694.45 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Paccar Financial México (MEX: PCARFM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $2,279.58 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Start Banregio (MEX: START) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,046.34 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $472.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $3,389.68 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Germany's Bosch, a global household-appliances producer, announced the opening of its first operational plant in Mexico, in the municipality of Salinas Victoria, Nuevo León. This follows an investment of USD $260.00 million.

China's SINOBOOM, an industrial forklift manufacturer, announced the commencement of construction of a plant in Guanajuato, with an initial investment of USD $150.00 million.

Mexico's Grupo Hycsa, a construction and infrastructure-services operator headquartered in Mexico City, will create a new division focused on renewable energy called HYCSA Green Capital.

Pakistan's Artistic Milliners, a garment manufacturer, announced the construction of an operating plant in Parras, Coahuila, following an investment of MXN $700.00 million.

Mexico's Cementos Cruz Azul, a construction-materials manufacturer based in Mexico City, inaugurated a production plant in Aguascalientes, following an investment of MXN $160.00 million.

Mexico's Grupo Industrial Monclova, a holding company of diversified businesses in mining, energy, industrial processes and trade headquartered in Monclova, Coahuila, announced its investment plans of USD $90.00 million as part of its expansion. Approximately $40.00 million will be allocated to the construction of a stamping plant and the remainder to an industrial park.

Brazil's Maxion Structural Components, an infrastructure-components manufacturer, announced an investment of MXN $1,300.00 million for the expansion of a plant in Castaños, Coahuila.

China's Good Mark Industrial, a plastic-injection services provider, announced the construction of an operating plant in Torreón, Coahuila, following an investment of USD $12.00 million.

Mexico's Akron, a provider focused on hydrocarbon extraction and various chemical products based in Jalisco, announced the construction of a power plant in Lagos de Moreno, following an investment of USD $150.00 million.

Netherlands-based Stellantis, an automotive-industry holding group to which U.S.-based Jeep belongs, announced its plans to invest USD $1,600.00 million to build an electric platform for the purpose of assembling electric vehicles.

U.S.-based Edgewell Personal Care, a holding company of 25 international brands of skin-care, shaving and feminine-care products, announced its plans to invest USD $110.00 million for the construction of a production plant at the FINSA industrial park, in the state of Aguascalientes.

U.S.-based The American Gulfstream Aerospace Corporation, a producer of equipment for aircraft, marine and ground-combat systems, announced its plans to invest USD $370.00 million for the construction of its second plant focused on the manufacturing of aircraft equipment, in Mexicali, Baja California.

Achv Aceros, a construction-metals distributor based in Guadalupe, Zacatecas, announced its plan to invest USD $25.00 million in the construction of two pipe-manufacturing mills in the state of Nuevo León.

France's Valeo, an auto-parts manufacturer, announced the construction of a plant in Querétaro. The cost is estimated at USD $165.00 million.

Mexico's Vinmsa, an industrial-facility developer based in Monterrey, announced its plans to build industrial facilities in Nuevo León. The project is estimated at a cost of USD $100.00 million.

Mexico's Grupo Aeroportuario del Pacífico, an operator of 12 airports in the country based in Guadalajara, announced investment plans of up to MXN $43,000.00 million, which will be deployed starting in 2025 and are aimed at the renovation of its facilities, particularly the Guadalajara international airport.

Mexico's Botanas y Derivados, a snack-food producer and subsidiary of the Xignux conglomerate based in Monterrey, inaugurated the expansion of its operating plant in León, Guanajuato, following an investment of USD $28.00 million.

Germany's Diehl Aviation, an aircraft-parts manufacturer, announced the construction of a plant in Querétaro. The cost is estimated at MXN $900.00 million.

Mexico's Alsea, a holding company of various restaurant chains including Domino's Pizza, Starbucks, and others, headquartered in Mexico City, announced plans to invest in a new operations center in Jalisco, for an undisclosed amount.