Aug 31 2009
Grupo Televisa, S.A.B. ("Televisa"; NYSE: TV; BMV: TLEVISA CPO) and Genomma Lab Internacional, S.A.B. de C.V. ("Genomma Lab"; BMV: LAB B) announced today that they have signed a strategic alliance agreement to sell and distribute personal care and over the counter pharmaceuticals in the United States and Puerto Rico.
The strategic alliance will operate through Televisa Consumer Products USA ("TCP") a company owned 51% by Televisa and 49% by Genomma Lab. The sale and distribution of Genomma Lab's products will be an integral part of the activities of TCP.
As part of this alliance, TCP will enter into, among others, a product supply agreement with Genomma Lab. Televisa will make available its different media platforms in the United States and Puerto Rico to TCP, which will provide Genomma Lab's brands with significant advertising in the targeted markets in line with Genomma Lab's business model.
This will enable Genomma Lab to expand the extensive success of its brands beyond Mexico and Latin America by accessing a Hispanic market of approximately 50 million consumers with a purchasing power of over $870 billion annually while leveraging off of Televisa's reach and name recognition in the Hispanic market.
Subject to certain conditions, the parties contemplate closing the transaction in the following months and launching operations by year end.
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