MEXICO CITY (Reuters) - Mexican bottler and retailer FEMSA announced on Tuesday its U.S. subsidiary Envoy Solutions reached an agreement to acquire the distributor Sigma Supply for an undisclosed amount.
FEMSA said the acquisition is "another step" in its strategy to build a distribution platform in the United States. The transaction is expected to close during the second quarter of the year, it added.
"Sigma Supply will add important capabilities in the distribution of packaging materials, solutions and services, and expand Envoy's presence in Texas," the Mexican company said in a filing to the local stock exchange.
Sigma Supply operates 18 distribution centers and its sales totaled $370 million in 2021, FEMSA said.
(Report by Adriana Barrera, Writing by Valentine Hilaire; Editing by Bernard Orr)