USA: PriceSmart announces Mexico JV with Grupo Gigante
San Diego-based PriceSmart yesterday [Wednesday] announced a major investment by, and the entering of a joint venture agreement with, Grupo Gigante , one of Mexico's largest grocery and retail store chains. PriceSmart and Gigante have agreed to invest initially up to a total of US$40m for the opening of Mexico's first four PriceSmart stores within the next 18 months, with two of the stores to open in time for the 2002 Christmas shopping season, and may invest additional funds as necessary for further expansion of the joint venture in the future. PriceSmart and Gigante will contribute US$20m each to the 50/50 venture. PriceSmart, through a management agreement, will run the day-to-day operations of the warehouses and the JV will benefit from the purchasing power that Gigante brings to the transaction with its US$3bn in annual sales.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Unilever 2016 investor day - the top takeaways
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- Tyson sets up US$150m investment fund
- Ferrero entity acquires Delacre
- Confectionery North America (NAFTA) Industry Guide_2016
- How Brands Are Making Our Food Healthier
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020
- Frozen Food Production in the US - Industry Market Research Report