Nascent announced this afternoon that it has signed a letter of intent to acquire Grupo Sur Promociones de México S.A. de C.V (GSP). The distributor ships imported food and beverage products nationwide in Mexico with revenues exceeding $24 million for the year 2006.
This acquisition would be the largest acquisition to date for the company as it reaches into all of Mexico. The companies plan to cross-pollinate their products and services in order to offer a variety of solutions to all their customers.
The CEO of Nascent, Sandro Piancone, stated, “With GSP on our team we achieve yet another milestone in the retail industry. Not only have we built the only nationwide broadline distribution system in Mexico for imported products, but now with merchandising, marketing and promotions, we are truly the only one-stop shop for anyone wanting to sell food, beverage and related products into Mexico.” He continued by saying, “Our first step will be to work with Grupo Sur to promote our existing products into accounts they currently service.”
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