Petco has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a joint venture with Grupo Gigante of Mexico.
Petco has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a previously announced joint venture with Grupo Gigante of Mexico.
Office Depot has reached an agreement to sell its 50% stake in Office Depot de Mexico S.A. de C.V. to its joint venture partner Grupo Gigante, S.A.B. de C.V. for roughly $690 million in cash.
Grupo Gigante wants buy the 50% stake in the Mexican unit of Office Depot that it does not already own.
A Friday report by Bloomberg said that Office Depot is considering selling the remaining 50% of its Mexican unit to Grupo Gigante SAB, which currently owns the other half.
Mexican supermarket and restaurant operator Gigante has entered into a joint venture with Petco Animal Supplies to open at least 50 stores in Mexico and other Latin American countries over seven years, Reuters reported.
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