Jetro Restaurant Depop is a wholesale self-service chain, focused on selling food to restaurants and small businesses in the United States, with the Jetro Cash & Carry and Restaurant Depot formats. FEMSA announced the investment of 750 million dollars to acquire a stake in the company in November 2019, then the chain had 130 units.
The Mexican company detailed in a statement sent to the Mexican Stock Exchange that the divestment is in line with its strategy FEMSA Forward, communicated on February 15, 2023, and focused on promoting its strategic businesses.
The shares of FEMSA, which on Tuesday launched a second sale offer for its shares in the Dutch brewer Heineken, rose more than 3% on the Mexican stock market, above the main local stock index, S&P/BMV IPC, which lost a 0.66% shortly after starting the day.
FEMSA focuses on its profitable businesses
The Monterrey company announced in February a plan to focus its business, and also its investments, on the most profitable divisions: Coca Cola FEMSA, Oxxo and FEMSA Digital.
One of the first steps in this new strategy was the sale of its shareholding in Heineken with a view to raising 3.7 billion euros.
Following this announcement, FEMSA said it would make an annual investment of $1.7 billion in its core businesses.