The Mexican FAMSA wants to take over the swiss Kiosk consortium

The Swiss company Valora, to which k Kioske, Brezelkönig and Caffè Spettacolo belong, among others, will probably soon change hands.

Valora is to be taken over by the Mexican company Femsa. The Mexican chain of stores will submit a cash offer of 260 francs per Valora share to purchase all publicly held registered shares. This corresponds to a purchase price of CHF 1.1 billion. The Valora Board of Directors recommends that shareholders accept the offer, as the company announced on Tuesday.

Valora will continue to operate under its own name and become part of Femsa's European operations. The merger will create a “new, competitive player” in the European convenience business. Valora's brands and formats are to be continued in accordance with the current management's expansion and business plans.

According to the report, the purchase price corresponds to a premium of 52 percent to yesterday's closing price of the share. Valora's largest shareholder Ernst Peter Ditsch, who currently holds around 17 percent of Valora, also supports the offer.
Mexican equivalent

The buyer Fomento Económico Mexicano (Femsa) is a retail company based in the Mexican metropolis Monterrey, which reportedly achieved total sales of 2021 US$ 27 billion. It owns Oxxo, the largest convenience store chain in Mexico and Latin America, and operates over 3,600 pharmacies in four Latin American countries. Femsa employs 320,000 people worldwide with over 25,000 sales locations in 13 countries.

Fomento Económico Mexicano S.A.B., founded as a brewery in 1890. de C.V. is the largest beverage manufacturer in the entire Latin American region. In terms of sales, Femsa is the world's largest franchise bottler of Coca-Cola products and the second-largest shareholder in the Heineken Group. The company is listed on the Mexican and New York Stock Exchanges.

The tender offer is subject to customary conditions and regulatory approvals for this type of transaction. The closing of the transaction is expected for late September or early October. Valora is then to be delisted from the SIX Swiss stock exchange.