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TLA Times | Sep. 30, 2020

  REGION  

Delivery Hero buys up Glovo’s Latin America operations

German-based Delivery Hero has expanded its footprint in Latin America with the acquisition of Spanish-based Glovo’s operation in the region, Barrons.com reports. Both companies already operate in Argentina, Panama and the Dominican Republic. With the $272 million acquisition, Delivery Hero will add Peru, Ecuador, Costa Rica, Honduras and Guatemala. Delivery Hero focuses on food delivery. Glovo claims it delivers “anything.” It is uncertain if Delivery Hero will continue the delivery of the wide range items in markets formerly served by Glovo.  Details


  CHILE and PERU  

Changing of the guard; Peru eclipses Chile as blueberry power

Chile has been the dominant blueberry producer in the Southern Hemisphere for the past 20 years, but that is changing, Blueberry Magazine reports. Manuel José Alcaíno, an international consultant, says "It is clear that Peru has taken a dominant position in exports.” Chile had an advantage that it produced blueberries between the end of production in Canada and the new season in Florida. But Peru now dominates the early part of that window, with Mexico supplying more in the late part. “So the business in Chile changed and changed definitively, passing from windows of almost exclusive use to having to compete throughout the season in all markets,’’ Alcaíno says. Details


  BRAZIL  

Laureate Education selling off its Brazilian operations

Baltimore-based Laureate Education has entered into an agreement to sell its operations in Brazil to Ser Educacional for $724 million, PR Newswire reports. Laureate operates 11 higher education institutions in Brazil in technical, undergraduate and postgraduate programs with a total enrollment of 267,000 students. The agreement calls for Laureate to pay $124 million in cash and the rest in stock in Ser Educacional. Laureate will have a 44% stake in Ser Educacional when the deal is completed. Details


  MEXICO  

Ace Hardware plans to open franchises in Mexico in 2021

Ace Hardware announced plans to open franchised stores in Mexico beginning as early as 2021, HomeWorld Business reports. The company will offer formats from 300-square meters to 3,000-square meters and will focus on locations in Mexico City. Ace has enlisted Feher Consulting to represent it. Experience in retail and a $2-million liquid investment are required for franchisees. “The expansion of the franchise model in Mexico gives us a platform to further deliver on Ace Hardware’s legacy of providing local investment and ownership opportunities to entrepreneurs,” Ace International’s Alejandro Lorenzo says. Details

 

Grupo Bimbo looks to buy majority stake in maker of Modern Bread

Grupo Bimbo is in preliminary discussions to acquire a majority stake in Everfoods, a packaged foods platform owned by a private equity firm, The Economic Times reports. Grupo Bimbo is Mexico’s largest bakery and sells products in 33 countries. Everfoods was acquired from Hindustan Unilever in 2015 by Everstone Capital. Everfood is best-known for its Modern Bread brand, which once enjoyed near-cult status. Details


 

  FUN IN THE SUN  

Puerto Escondido offers world-class surfing

The waves in Puerto Escondido can reach 40 feet or higher, but it has tamer days as well. This beach on the Pacific in the state Oaxaca is well-known to the surfing set. Prime time is May to August. But you may be able to get good waves and beat the crowds in September, October and early November. Bungalows Zicatela and Hotel Ines offer economy accommodations right on the beach. If you are looking something fancier, Aldea del Bazar Hotel and Spa will fit the bill.  Details

 

  SNAPSHOT  
GDP pct. growth in Mexico










 

 

Source: data.worldbank.org

  EXCHANGE RATE  
Currency | Per US Dollar

 

 

 

 

 

 

 

 

Figures from Sep. 30, Source: www.xe.com

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