Nexxus reached an agreement to invest in Grupo Turistore
Mexico City, October 31st, 2018
Nexxus announces that on October 25th, 2018, it reached an agreement to invest in Grupo Turistore, a retail company focused on international tourism with more than 30 years of experience in the industry. It has 56 stores in Mexico’s main beach destinations and a broad product offering, being its main selling categories handcrafts, clothing, pharmacy, liquor, and groceries.
The investment will be made through Nexxus VI once certain closing conditions are met, including the approval from Mexico’s Antitrust Authority, which we estimate to be granted by the end of November 2018.
Alta Growth Capital, a Mexican private equity fund with more than 10 years of experience in the industry will co-invest in the transaction. Nexxus and Alta Growth will support the company to boost its organic growth taking advantage of the extensive development paths among the company’s core business.
Nexxus has actively contributed to the private equity industry in Mexico since its foundation in 1995. It is one of the leading alternative asset managers in Mexico and one of the most successful in Latin America.
Considering this investment, Nexxus has completed 27 investments and has fully divested from 13 portfolio companies. Nexxus has raised and managed several funds with capital commitments in excess of US$1.5 billion and is the only Mexican alternative asset manager that has listed six portfolio companies in the public markets.
The investment in Turistore is the eighth investment of Nexxus VI, as it continues to analyze investment opportunities in Mexican midsized companies with high growth potential, whose value can be enhanced through strategic acquisitions, improved operations, and the implementation of world-class business standards.
Nexxus strives to be the Mexican alternative asset manager with whom investors, entrepreneurs and service providers prefer to associate with due to its value creation capabilities, acting with complete transparency, integrity and professionalism.
For further information please visit www.nexxuscapital.com or contact:
+52 (55) 5292-3400