MEXICO CITY, Aug. 30 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.
About Grupo Televisa, S.A.B
Grupo Televisa, S.A.B., is the largest media company in the Spanish-speaking world and a major participant in the international entertainment business. It has interests in television production and broadcasting, production of pay-television networks, international distribution of television programming, direct to home satellite services, cable television and telecommunication services, magazine publishing and publishing distribution, radio production and broadcasting, professional sports and live entertainment, feature-film production and distribution, the operation of an internet portal, and gaming. Grupo Televisa also owns an unconsolidated equity stake in La Sexta, a free-to-air television venture in Spain.
About Genomma Lab Internacional, S.A.B. de C.V.
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Mexico and has an increasing presence in the international markets. 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 significantly grown its revenue and profitability through a combination of a successful new product development process, consumer-oriented marketing, a broad retail distribution network and a low-cost, highly flexible operating model.
SOURCE Genomma Lab Internacional, S.A.B. de C.V.