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Mexico City (apro) – Grupo Femsa announced the acquisition of the retail business of Delek US, which consists of 249 convenience stores operating under the DK brand, with a significant component being gas stations.
The announcement was made on August 1 through the official account with an amount of $385 million.
José Antonio Fernández Garza-Lagüera, general manager of FEMSA’s proximity and wellness division, said the company had long intended to enter the convenience and mobility sector in the United States and that this transaction “represents the ideal way for us to take our first steps in this attractive market.”
He stressed that the retail business in Mexico has been developed for more than 45 years, with operations in 10 countries in South America and Europe, and stores in more than 30,000 locations.
Delek President and CEO Avigal Soreq commented that the sale of the retail business represents “an incremental step in our commitment to unlocking the value that exists in our system.”
The status of the transaction remains subject to regulatory approval from the relevant authorities, which is expected to be obtained in the coming months in 2024.
FEMSA Group sees this market as an opportunity to build a platform that has the potential to achieve scale and create value for shareholders, and they believe that “the Delek store has the right attributes to be FEMSA’s first step into this market in terms of scale, geographic location”.
Delek US Holdings, INc is a diversified downstream energy company with refining, logistics, pipeline, renewable fuels and convenience store assets. The convenience store retailing segment operates 250 stores in West Texas and New Mexico.
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