What FEMSA's Strategic Review Means for Envoy Solutions
On February 15, FEMSA (Fomento Económico Mexicano, S.A.B. de C.V.), parent company to distribution and solution provider Envoy Solutions, shared an announcement that the Board of Directors had approved a new long-range plan, as well as decisions resulting from its strategic review process. The goal was to ensure full alignment between the Board and management as to how to pursue and maximize value creation.
FEMSA has determined that the best path to maximize long-term value creation is by focusing on its core business verticals which have the highest strategic relevance, growth potential, and financial and competitive strength. This includes retail, Coca-Cola FEMSA and digital.
As a result of the review, the FEMSA Board of Directors has approved the exploration of strategic alternatives for Envoy Solutions.
Following this initial announcement, FEMSA made the following statement:
"FEMSA recently announced our FEMSA Forward vision, which will increase our strategic focus on a narrower set of business verticals and seek strategic alternatives for Envoy Solutions. Among them, a potential addition of new strategic partners that would provide the capital and support required to continue Envoy Solutions’ tremendous momentum, achieve the necessary scale, and realize the true potential and full value of our investment. The company has been an excellent investment for FEMSA and its minority shareholders, meeting or exceeding every expectation we had on value creation."
In response to this announcement, Mark Fisher, Envoy Solutions CEO, told CleanLink:
"As a company, we remain focused on our vision and mission. We will continue building a national platform that delivers the best solutions for our clients, is a great place to work and grow a career, and a good steward of our communities.
"We’ve acquired a lot of great companies over the last few years. We are focusing on continued organic growth and aligning our operations. FEMSA is and will continue to be a partner to us as we work to achieve our vision."
Envoy Solutions has built a growing family of distribution companies across the country. Thirty-two different distributors are currently featured on the Envoy website.