Femsa buys into Raízen's convenience store chain

Femsa buys into Raízen's convenience store chain

M&A Brazil Mexico

Mexico's Femsa said it has agreed to buy 50% of Raízen Conveniencias, a convenience store chain owned by the Brazilian sugar and ethanol producer Raízen. Femsa will spend BRL561m ($141m) and a form a 50-50 joint venture with Raízen, the Mexican company said in a statement. Raízen, a joint venture between Cosan and Shell, operates 6,200 Shell service stations in Brazil, including 1,000 Select-branded convenience stores. The new joint venture can increase the number of Select stores at Shell se

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