Brady: Femsa Partners With BradyIFS to Launch New U.S. Distribution Platform

By Sabela Ojea Fomento Economico Mexicano, also known as FEMSA, has signed an agreement with BradyIFS, the distributor of janitorial, sanitation and foodservice disposables and products, to... By Sabela Ojea Fomento Economico Mexicano, also known as FEMSA, has signed an agreement with BradyIFS, the distributor of janitorial, sanitation and foodservice disposables and products, to create a new distribution platform in the U.S. The Mexico-based beverage and retail company on Tuesday said it will get about $1.7 billion in cash from the transaction, and retain an ownership stake of about 37% in the combined entity. The remaining controlling stake will be owned by existing BradyIFS equity holders, the company said. "The combined platform will bring together Envoy Solutions [distributor and solution provider] and BradyIFS in a highly complementary combination, positioned to serve and provide value to its customers and suppliers effectively and efficiently across the country," FEMSA said. Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix (END) Dow Jones Newswires 08-29-23 1717ET