News
Waxie and North American Finalize FEMSA Agreement
May 18, 2020Waxie Sanitary Supply and North American Corp. have finalized their partnership agreement with Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA).
The deal, announced earlier this year, calls for each company to maintain its current management teams, with Charles Wax of Waxie and John Miller of North American now serving as co-CEOs of the new enterprise. FEMSA will have a majority controlling interest in the combined company based on its US$900 million initial investment.
“This is a great growth opportunity for all of us and one that will significantly advance the jansan industry,” said Wax. “FEMSA’s strategy aligns well with our culture and their distribution and logistics expertise will complement the industry insights and relationships of both WAXIE and North American.”
About Waxie
Headquartered in San Diego, Waxie Sanitary Supply is a leading family-owned distributor of sanitary-maintenance supplies to the building service contractor, school, hospitality, health care, military, government, industrial, and retail markets. For more information, visit www.waxie.com.
About North American
North American Corp. is a Glenview, Illinois-based provider of distribution and marketing services as well as integrated supply chain business solutions. For more information, visit www.na.com.
