FEMSA-backed Envoy Solutions to acquire Penn Jersey Paper.

FEMSA-backed Envoy Solutions, a distribution subsidiary, agreed to acquire Penn Jersey Paper, an independent specialized distribution company. Financial terms were not disclosed. This transaction represents another important step in FEMSA’s strategic path to build a leading national distribution platform in the United States. The transaction is subject to customary closing conditions and approvals and is expected to close during the third quarter of 2021.