Mexican company Fomento Económico Mexicano (FEMSA) has signed definitive agreements and completed the acquisition of a minority stake in US-based Jetro Restaurant Depot (JRD).

Founded in 1976, JRD operates in the wholesale business-to-business cash and carry retail foodservice segment in the country.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As part of the deal, FEMSA made an investment in JRD’s operating and real estate-holding.

In September, FEMSA signed a non-binding memorandum of understanding (MoU) with JRD for the stake acquisition.

FEMSA said in a statement that the transaction allows the company to gain exposure to the US wholesale cash and carry segment by investing with a formidable partner.

Additionally, it creates the platform for a new joint venture (JV) to develop and grow this business in FEMSA’s core markets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest agreements also include the terms and conditions for a proposed JV of FEMSA and JRD to expand the latter’s business model to Mexico, as well as other markets in Latin America.

At the time of signing the deal, FEMSA noted that it will invest $750m as part of the MoU agreement. The JV will be equally owned by the partners.

JRD currently operates more than 130 stores across the US with Jetro Cash and Carry and Restaurant Depot formats.

FEMSA, which offers a range of solutions to its business units and third-party clients, has more than 295,000 employees in 13 countries.

The company participates in the retail industry through FEMSA Comercio, which consists of a Proximity Division operating OXXO, a small-format store chain, a Health Division and a Fuel Division.