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Mexico's Modelo seeks buyer for Extra chain of stores

Monday, March 25, 2013

Grupo Modelo, México's largest brewery, has hired the services of Bank of America for assistance in selling its Extra convenience store line.

At the end of 2011, there were 960 Extra stores in Mexico, which was the result of Modelo cutting down the number of stores by half over the previous five years.

CEO Carlos Fernandez said the company wanted to sell the Extra brand to focus on profitability, as there was already a lot of competition in the convenience store sector.

Full story (in Spanish)