Nexxus Capital and Alta Growth Capital completed an investment in Grupo Turistore, a Mexican retail company focused on international tourism.
(Press Release) Nexxus announces that on January 18th, 2019, it completed its investment in Grupo Turistore after meting all the precedent conditions of the transaction.
Grupo Turistore is a leading retail company focused on international tourism with more than 30 years of experience in the industry. It has 56 stores in Mexico’s main beach destinations such as Cancun, Playa del Carmen, Los Cabos, Puerto Vallarta, Tulum, among others. The company has a variety of different proven concepts for its stores and a broad product offering.
Grupo Turistore participates in an industry with strong fundamentals. Based on information from the last economic census published by the Comunications and Transportation Agency in Mexico (“SCT”), the tourism specialized retail industry in Mexico is worth ~MXN$46,000 millions and has shown a ~14% compound annual growth rate (2013-2017).
The investment was funded through Nexxus VI L.P. and Nexxus VI Trust (jointly “Nexxus VI”). Alta Growth Capital, a Mexican private equity fund with more than 10 years of experience in the industry, co-invested in the transaction.