Femsa announced a strategic review in February for some non-core units, including its stake in Dutch brewer Heineken NV, and Envoy Solutions. — Bloomberg
MEXICO CITY: Mexican Coca-Cola bottler Femsa is in talks to sell a US packaging and food services business to private equity firms Warburg Pincus and Kelso and Co for about US$5bil, according to people with knowledge of the matter.
Kelso would do the deal through portfolio company BradyIFS, said the people, who asked not to be identified discussing private information.
Representatives for Femsa, Warburg Pincus and Kelso declined to comment.
Monterrey, Mexico-based Femsa announced a strategic review in February for some non-core units, including its stake in Dutch brewer Heineken NV, and Envoy Solutions, according to a statement.
Envoy Solutions, based in Glenview, Illinois, provides a range of packaging and food services, from corrugated boxes to facilities cleaning, according to its website.
Femsa, which distributes and bottles beverages and operates convenience stores, acquired 20% of Heineken in 2010 before trimming its holding.
It acquired Switzerland’s Valora, which operates about 2,700 cafes and convenience stores, for as much as US$1.2bil last year to expand in Europe.
Femsa is short for Fomento Economico Mexicano SAB. — Bloomberg
