Nexxus is to invest in Grupo Turistore, a retail company focussed on international tourism with more than 30 years of experience in the industry.
Grupo Turistore has 56 stores in Mexico’s main beach destinations and a broad product offering, with its main selling categories being handicrafts, 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.
