MEXICO
CITY, May 6, 2024 /PRNewswire/ -- Genomma Lab
Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma
Lab" or "the Company"), one of the leading pharmaceutical and
personal care product companies in Mexico with an expanding international
presence, provides an update on the initiative to divest "non-core"
assets and increase focus on its core brands and businesses.
Gibart, S.A. de C.V., a wholly-owned subsidiary of Genomma Lab,
currently holds a non-controlling equity stake in Grupo Comercial e
Industrial Marzam, S.A.P.I de C.V. ("Marzam"), which represents a
"non-core" asset of the Company.
Over several months, Marzam received potential third-party bids
to acquire majority stakes from an international group and one of
Mexico's largest logistics
enterprises. However, these offers did not interest Moënch
Cooperatief, U.A., the controlling shareholder of Marzam.
Mr. Luis Doporto Alejandre has
signed a definitive agreement to proceed with a capital infusion
into Marzam to strengthen its position in the wholesale
pharmaceutical distribution sector and capture market
opportunities.
As part of this agreement, Gibart has consented to the capital
infusion and, provided that the applicable conditions are met, will
reduce its equity stake in Marzam. This transaction aligns with
Genomma's strategy to divest certain "non-core" assets and focus on
the company's core objectives.
The closing of the transaction is subject to customary
conditions. Once completed, Gibart will no longer be a shareholder
of Marzam.
Gibart reserves all its rights to enforce them until full
payment is received in connection with this transaction.
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest
growing pharmaceutical and personal care products companies in
Latin America. Genomma Lab
develops, sells and markets a broad range of Premium branded
products, many of which are leaders in the categories in which they
compete in terms of sales and market share. The Company has a sound
business model through a unique combination of a new product
development process, consumer oriented marketing, a broad retail
distribution network and a low‐cost, highly flexible supply chain
operating model. For more information visit:
www.genommalab.com
Genomma Lab's shares are listed on the Mexican Stock Exchange
under the ticker "LABB" (Bloomberg:
LABB:MM).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and
information relating to the Company that reflect the current views
and/or expectations of the Company and its management with respect
to its performance, business and future events. Forward looking
statements include, without limitation, any statement that may
predict, forecast, indicate or imply future results, performance or
achievements, and may contain words like "believe," "anticipate,"
"expect," "envisages," "will likely result," or any other words or
phrases of similar meaning. Such statements are subject to a number
of risks, uncertainties and assumptions. We caution you that a
number of important factors could cause actual results to differ
materially from the plans, objectives, expectations, estimates and
intentions expressed in this presentation and in oral statements
made by authorized officers of the Company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of their dates. Risks and uncertainties
include, but are not limited to: risks related to the impact of the
COVID-19 global pandemic, such as the scope and duration of the
outbreak, government actions and restrictive measures implemented
in response, material delays, supply chain disruptions and other
impacts to the business, or on the Company's ability to execute
business continuity plans as a result of the COVID-19 pandemic,
economic factors, such as interest rate and currency exchange rate
fluctuations; competition, including technological advances, new
products attained by competitors; challenges inherent in new
product development; the ability of the Company to successfully
execute strategic plans; the impact of business combinations and
divestitures; manufacturing difficulties or delays, internally or
within the supply chain; significant adverse litigation or
government action, including related to product liability claims;
changes to applicable laws and regulations, including tax laws;
changes in behavior and spending patterns of purchasers of products
and services; financial instability of international economies and
legal systems and sovereign risk. A further list and descriptions
of these risks, uncertainties and other factors can be found within
the Company's related filings with the Bolsa Mexicana de Valores.
Any forward-looking statement made in this release speaks only as
of the date of this release. The Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Genomma Lab Internacional, S.A.B. de C.V.