(Bloomberg) -- Mexico’s Fomento Economico Mexicano SAB sold a $1.7 billion stake in Envoy Solutions to BradyIFS as part of its plan to divest from non-core units.
Femsa, as the company is known, will retain a 37% stake in Envoy, the company said in a statement. The two companies will “create a new platform within the facility care, foodservice disposables and packaging distribution industries in the United States,” the statement said.
--With assistance from Carolina Gonzalez.
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