An undisclosed buyer entered into a definitive agreement to acquire unknown minority stake in Jetro Restaurant Depot from Fomento Económico Mexicano, S.A.B. de C.V. (BMV:FEMSA UBD) for $1.4 billion.

An undisclosed buyer entered into a definitive agreement to acquire unknown minority stake in Jetro Restaurant Depot from Fomento Económico Mexicano, S.A.B. de C.V. (BMV:FEMSA UBD) for $1.4 billion on May 31, 2023. Under the transaction, Fomento Económico Mexicano will divest its minority investment in Jetro Restaurant Depot and related entities and will receive total cash consideration of $1.4 billion, with approximately $467 million payable on closing, and the remainder payable over two years. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2023.

JPMorgan Chase & Co. acted as financial advisor to Jetro Holdings, LLC.