Screen Shot 2023 02 21 at 10.29.57 AMFEMSA's Envoy:  
'Four Sale' options?

VC/MBO Spinoff? IPO? Sale
eg Grainger? Stick v twist?


FEMSA 
the $27Bn Mexican based convenience store & fuel station chain (Oxxo) shocked business supply markets last week, stating it was "exploring strategic alternatives" over it's $2Bn Envoy rollup of US hygiene and packaging resellers. We explore the strategic options available to the conglomerate. We feel this will not play out without major difficulties ahead... Updated 

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