MEXICO CITY, Sept 23 (Reuters) - Mexico’s Femsa, a retailer and bottler of Coca-Cola Co beverages, on Monday said it will buy 80 percent of fast-food chain Dona Tota, marking its first venture into the restaurant business.
Dona Tota operates 204 restaurants across Mexico and 11 in Texas, Femsa said in a statement.
The restaurant chain’s founding shareholders will stay on as partners and keep the remaining 20 percent stake in the company, Femsa said.
Femsa , which operates the Oxxo chain of convenience stores, did not disclose the value of the deal.
“Femsa Comercio believes that it can contribute its significant expertise in the development of small-box retail formats to what is already a successful player in the quick-service restaurant industry,” the company said in a statement.
Femsa, which also has a joint venture with The Coca Cola Co to bottle Coke in Latin America through Coca-Cola Femsa , said earlier this year it planned to venture into new businesses, including fast food.
Last year, Femsa bought a 75 percent stake in drug store chain YZA and executives told analysts on a call in February that the company would consider other similar deals.