This transaction is part of its strategy to divest in areas considered non-strategic.

Femsa announced today that it has reached a definitive agreement with AMMI, a diversified corporation focused on the production of non-GMO corn and sustainable plastic packaging, a subsidiary of Milenio Capital, to divest Femsa's plastic solutions operations for a total amount of $3.165 billion pesos (approximately US$158 million), net of cash and debt.

The Mexican firm reported that this transaction represents an additional step in the continued execution of the Femsa Forward plan, which was announced in February 2023. The transaction is subject to regulatory approvals and other customary conditions, and is expected to close in the coming months.

As a reminder, at the beginning of October, Femsa reached an agreement with Grupo Traxión, a transportation and logistics company in Mexico, to sell its logistics operations, which operate under the name Solistica, for $4.06 billion Mexican pesos (about US$205 million).

In July, it also announced the sale of its Imbera and Torrey operations, its refrigeration business, for a total of 8 billion pesos (around US$ 400 million), as part of this strategy to divest from areas considered non-strategic.