Ecolab Expands Latin America Food & Beverage Business
ST. PAUL, Minn.--(BUSINESS WIRE)-- Ecolab Inc. announced it has agreed to purchase Quimiproductos S. A. de C. V, a wholly-owned subsidiary of Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYS: FMX) , a Mexico-based multi-national company. With 2011 revenue of $35 million, Quimiproductos is a leading manufacturer and provider of cleaning and sanitizing and water treatment products and services to beverage and brewery customers in Mexico; it also operates in several Central and South American countries. Completion of the transaction is subject to customary regulatory clearance and other standard closing conditions. No further details were disclosed.
Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer commented on the announcement, saying, "This acquisition will help us to build scale, strengthen our core product offerings and improve service capabilities to our beverage processing customers in the fast growing Latin America region. We look forward to further developing our relationships and business in Latin America through this agreement as well as through our expanded sales and service capacities."
With 2011 pro forma sales of $11 billion and more than 40,000 employees, Ecolab Inc. (NYS: ECL) is the global leader in water, hygiene and energy technologies and services that provide and protect clean water, safe food, abundant energy and healthy environments. Ecolab delivers comprehensive programs and services to the food, energy, healthcare, industrial and hospitality markets in more than 160 countries. More Ecolab news and information is available at www.ecolab.com.
Michael Monahan, 651-293-2809
Lisa Curran, 651-293-2185
KEYWORDS: United States North America Minnesota
The article Ecolab Expands Latin America Food & Beverage Business originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.