Acquisitions in Mexico

Guanajuato Silver Company Ltd. closed its acquisition of the Bolañitos gold-silver mine in Guanajuato, Mexico from Endeavour Silver Corp. via the purchase of all outstanding shares of Mina Bolañitos S.A. de C.V. Total consideration is up to US$50 million, consisting of US$40 million paid at closing (US$30 million cash and US$10 million in Guanajuato Silver shares) plus up to US$10 million in contingent payments tied to silver-equivalent production milestones.

Affiliates of Alojica, a Black Creek Mexico-sponsored investment platform, together with Royalton Hotels & Resorts, completed the acquisition of The Westin Resort & Spa, Cancun from affiliates of Marriott Vacations Worldwide. The buyers plan to execute a capital improvement program to reposition the property into an All-Inclusive by Marriott Bonvoy resort under the Westin Hotels & Resorts brand.

Hightekers, a global Employer of Record (EOR), payroll, and workforce solutions provider, acquired Serviap Global, a LATAM-based EOR and contractor management services provider. The deal expands Hightekers’ direct operational footprint across Latin America and supports its broader global expansion and integration plans toward a unified brand and technology platform by 2026.

Castle Harlan acquired Baja Marine Foods (BMF) through its portfolio company Baja Aqua-Farms (BAF). The deal expands BAF’s vertically integrated seafood platform and adds marine ingredients capabilities through BMF’s fishmeal and fish oil production; financial terms were not disclosed.

Fox Corporation announced it has acquired Caliente TV, a leading sports broadcasting and streaming platform in Mexico. The deal expands FOX’s sports streaming footprint and adds a catalog of premium sports rights to deploy across FOX-owned and operated platforms as it builds new Pay TV and SVOD offerings in the region.

Tambourine, a hospitality marketing technology company, acquired ReservHotel, a hotel reservation platform serving the Caribbean and Latin America region. The deal adds ReservHotel’s booking engine and reservations capabilities (including packaged hotel-and-flight offers and a dedicated reservations call center) to Tambourine’s hotel website and marketing tools, and ReservHotel has been reintroduced as “Reserv by Tambourine.” The acquisition closed in August 2024 and Tambourine retained ReservHotel’s Cancún office to support call-center operations and key Mexico accounts.

WWE has acquired Lucha Libre AAA, one of Mexico’s top wrestling promotions, to expand its presence in Latin America. The deal was announced on April 19, 2025, ahead of WrestleMania 41, and WWE also unveiled a first crossover event, NXT x AAA: Worlds Collide, scheduled for June 7, 2025 in Los Angeles.

ActiveCampaign has acquired Mexico City-based Hilos to expand its cross-channel marketing automation capabilities with native WhatsApp messaging. The deal adds Hilos’ WhatsApp automation technology to ActiveCampaign’s platform, enabling businesses to build no-code WhatsApp automations, manage two-way conversations, and gain real-time insights. ActiveCampaign plans to integrate Hilos’ technology natively into its platform in the coming months.

Golden Minerals Company sold its wholly owned Mexican subsidiary, Minera de Cordilleras, S. de R.L. de C.V., to a privately held Mexican company for US$600,000 under an agreement signed April 1, 2025. The subsidiary held net operating losses, inflation-adjusted capital contributions (CUCAs), and five mining concessions in Mexico; Golden Minerals stated all funds related to the CUCA sale have been received.

Former NFL All-Pro Ryan Kalil and NBA All-Star Blake Griffin, together with a broader athlete-led ownership group, acquired a controlling (majority) stake in the Monterrey, Mexico-based LFA American football franchise formerly known as Fundidores de Monterrey. The stake was purchased from prior owners Fabián Marcos and José Luis Domene, who will remain as minority partners and continue to support franchise management. Under the new ownership, the team has been rebranded as Osos Monterrey and the group plans to pursue partnerships, community engagement, player development, and a documentary chronicling the transition.

HR Path announced the strategic acquisition of Pay Human Group, a Mexican provider specializing in payroll management (including payroll outsourcing/BPO) and HR consulting. The deal expands HR Path’s footprint in Latin America, leveraging Pay Human Group’s established presence in Mexico and Colombia and aligning with HR Path’s end-to-end HR services model (advisory, implementation, and managed services).

FIBRA Prologis completed a tender offer (and reciprocal subscription/exchange) to acquire Terrafina CBFIs, securing administrative control and increasing its ownership to 77.14% (later rising to 89.88% after an additional settlement). Consideration included the issuance of FIBRA Prologis “Exchange CBFIs” and, for holders electing a cash option, MXN$11,782,140,300 in cash payments.

ACON Investments has closed an investment in Fitness Ventures, S.A.P.I. de C.V., which operates the boutique fitness studio chain Commando in Mexico. The investment will support Commando’s domestic and international expansion in partnership with the company’s existing shareholders and management team. Financial terms were not disclosed.

Lamons, a global manufacturer of sealing and attachment solutions backed by First Reserve, acquired Auge Industrial Fasteners (AUGE), a North American maker of highly engineered critical fastening solutions. The acquisition is intended to vertically integrate and strengthen Lamons’ supply chain and manufacturing capabilities across North America. Financial terms were not disclosed.

Wind Point Partners’ portfolio company Palmex S. de R.L. de C.V. and Highlander Partners’ portfolio company Benestar Brands agreed to merge, creating a larger North American provider of Hispanic and better-for-you salty snack products; Wind Point will be the majority shareholder and Highlander will retain a significant minority stake. As part of the transaction, Benestar’s Pretzilla division is being separated and will continue as a standalone business owned by Highlander and Pretzilla management.

Teamcore, a retail execution technology platform, announced the acquisition of Pabis Retail, a Mexico-based business intelligence and retail analytics company serving consumer packaged goods brands. The deal expands Teamcore’s business intelligence and analytics capabilities and strengthens its footprint in Mexico and northern Latin America.

Formerra, LLC, a portfolio company of H.I.G. Capital, acquired Mexico City-based Suministro de Especialidades ("Suministro"), a value-added distributor of elastomers, adhesives, resins, and performance additives. The deal expands Formerra’s engineered materials distribution presence in Mexico and adds elastomers and adhesives capabilities supported by an in-country laboratory. Suministro’s founder will join Formerra and remain invested in the business.

Pacifico Aquaculture received project financing from Equilibrium Capital and a significant equity investment from a consortium led by Butterfly Equity and a leading U.S. public pension fund. The funding will finance Pacifico’s nursery facility in Baja California and support expansion of sustainable ocean-raised striped bass production. Transaction terms were not disclosed.

Accenture has acquired MNEMO Mexico, a privately held provider of managed cybersecurity services. The deal expands Accenture Security’s cyber defense, response, and managed security services capabilities in Mexico and Latin America; financial terms were not disclosed.

Acino entered into an agreement to acquire M8 Pharmaceuticals, a specialty biopharmaceutical company headquartered in Mexico City focused on licensing, marketing, and distributing medicines in Mexico and Brazil. The deal significantly expands Acino’s presence in Latin America and complements its existing Latin American division based in Panama. M8 was previously a portfolio company of Montreux Growth Partners, and the transaction is expected to close by the end of 2023 subject to customary conditions including antitrust clearance.

MadaLuxe Group, through its subsidiary MadaLuxe Spirits, acquired a majority stake in the Tequila Enemigo brand as part of its expansion into premium spirits. Tequila Enemigo’s founding team will retain a significant minority stake and continue running day-to-day operations while joining the MadaLuxe Spirits executive team.

Bacardi Limited completed a transaction to become the sole owner of ILEGAL Mezcal, a super-premium artisanal mezcal brand. The acquisition follows a partnership between Bacardi and ILEGAL that began in 2015 and is intended to accelerate ILEGAL’s growth in the fast-growing mezcal category. Transaction terms were not disclosed, and ILEGAL founder John Rexer will continue to guide the brand’s vision.

Impulsora Euro S.A. de C.V. acquired Granmark S.A. de C.V., a wholly owned Mexican subsidiary of Party City Holdings, Inc., in a divestiture advised by Capstone Partners. Granmark designs, manufactures, and distributes party supplies, gift wrap, stationery, and packaging products and is headquartered in Monterrey, Mexico. The transaction was completed during Party City’s bankruptcy process and required creditor consent and court approval.

Klöckner & Co SE, through its U.S. subsidiary Kloeckner Metals Corporation (KMC), has completed the acquisition of National Material of Mexico (NMM) following antitrust approval. NMM is an independent steel service center and materials supplier with ten facilities across Mexico, and the deal expands KMC’s footprint in Mexico and strengthens its North American presence across automotive and industrial end markets.

Steelite International, owned by private equity firm Arbor Investments, has acquired Delfin, a provider of retail and foodservice display and tabletop solutions. The deal expands Steelite’s tabletop and buffet product portfolio and brings Delfin’s manufacturing capabilities, including its Mexico plant, in-house to support increased capacity and faster delivery.

Plaskolite LLC, backed by Pritzker Private Capital, signed an agreement to acquire the land, buildings, and equipment of Trinseo’s cell cast acrylic sheet manufacturing facility in Matamoros, Tamaulipas, Mexico. The acquisition expands Plaskolite’s acrylic sheet technology offerings (including cell cast) and strengthens its North American footprint, with closing expected within the next few weeks.

Accel-KKR announced the acquisitions of Pegaso Tecnología and Indicium Solutions in Mexico and Facture in Colombia, each providing e-invoicing and tax compliance software across Latin America. The three businesses will be combined into a unified platform focused on e-invoicing, digital compliance, and transparency for enterprise and mid-market customers across Ibero-America. Patricia Santoni was appointed CEO of the combined company.

Entertainment Arts Research (EARI) / EARI Beverage Group has completed the acquisition of Perfectomundo, Inc., producer and owner of the premium tequila brand Perfectomundo Tequila. The deal adds Perfectomundo Tequila to EARI Beverage Group’s spirits portfolio alongside its existing vodka and bourbon brands and supports broader distribution expansion.

Flagship Food Group, LLC acquired Yucatan Foods, LLC to expand its Southwestern and Hispanic foods portfolio with fresh guacamole, salsa, and dips. Yucatan markets products under the Yucatan and Cabo Fresh brands and operates a 97,000 sq. ft. manufacturing facility in Silao, Mexico, which supports Flagship’s vertical integration strategy.

L Catterton’s Latin America fund led a $70 million funding round in Razor Group, a Berlin-based e-commerce aggregator of consumer goods businesses. As an immediate step following the financing, Razor Group announced it has acquired VALOREO, expanding Razor’s footprint in Latin America.

Steel Dynamics, Inc. completed the acquisition of ROCA ACERO S.A. de C.V., a ferrous and nonferrous scrap metals recycling business headquartered in Monterrey, Mexico. The deal, originally announced in May 2022, received regulatory approvals and closed in October 2022, with Steel Dynamics acquiring ROCA’s equity interest.

ACON Investments, through its affiliate ACON Latin America Opportunities Fund V (ALAOF V) and co-investors, closed an investment in Corporación Actinver, S.A.B. de C.V., a leading Mexican investment services and wealth management firm. The investment will allow ACON to acquire up to 15% of Actinver, with proceeds intended to strengthen Actinver’s balance sheet and accelerate growth of its digital products and services.

Emergent Cold Latin America (Emergent Cold LatAm) announced the acquisition of Bajo Cero Frigoríficos, a cold storage company in Mexico, marking Emergent Cold LatAm’s entry into the Mexican market. Bajo Cero operates three cold-storage facilities in Irapuato, Villagrán, and León with over 37,000 pallet positions, and its management team will continue to run the business under Emergent Cold LatAm ownership.

Playmaker Capital Inc. acquired 100% of the digital assets of underdog dba JuanFutbol from Soccerly SAPI de C.V. to expand its reach in the Mexican and U.S. Hispanic sports media markets. The transaction also includes the related digital properties JuanBeisbol and FridaPop, with total consideration of up to US$2.8 million (including cash, Playmaker shares, and an earn-out with upside).

Paystand, a blockchain-enabled accounts receivable and B2B payments platform, acquired Yaydoo, a Latin America-focused accounts payable and cash flow management fintech. The combination aims to create a unified B2B receivables, payables, and payments network connecting the U.S. and Mexico (and broader LATAM), expanding product capabilities and scale across the Americas.

Walbar Engine Components (a portfolio company of Cornerstone Capital Holdings) acquired Chromalloy’s manufacturing facility in Guaymas, Mexico. The facility provides precision machining for gas turbine engine components and expands Walbar’s manufacturing capacity and engine program content across aerospace and industrial power markets.

Revelo, a Miami-based remote tech-talent sourcing and management platform, acquired Mexico-based Listopro, the country’s largest tech talent marketplace. The deal expands Revelo’s vetted Latin American developer network by about 50,000 professionals to roughly 300,000 total, strengthening its ability to help US companies hire remote developers in US time zones. Financial terms were not disclosed.

Micross Components, Inc., a portfolio company of Behrman Capital, acquired Semtech Corporation’s High-Reliability Discrete Diodes and Assemblies business. The acquired unit, headquartered in Reynosa, Mexico, supplies high-reliability diode and rectifier semiconductor products to aerospace, defense, medical and other customers. The deal expands Micross’ manufacturing capabilities and adds a manufacturing footprint in Mexico.

Medallia, Inc. acquired CXTeam, a customer experience consulting firm headquartered in Mexico serving customers across Latin America. The deal is intended to accelerate Medallia’s growth and adoption of its Experience Cloud platform in Latin America by adding CXTeam’s regional expertise in customer experience strategy, training, and implementations.

PC Capital Development Fund II, L.P. completed a growth investment in ISLIM Telco, S.A.P.I. de C.V. ("Netwey"), a Mexican internet service provider focused on affordable connectivity for low-income households. The investment is intended to help Netwey build its own telecommunications infrastructure and support continued rapid expansion in Mexico.

Marshall Excelsior Company (MEC), a Harbour Group company, acquired Xanor de Mexico (Xanik). Xanik is a Mexico City-based manufacturer of specialty valves used in severe service applications; financial terms were not disclosed.

Wind Point Partners, a Chicago-based private equity firm, acquired Palmex S. de R.L. de C.V., a Monterrey, Mexico-based manufacturer of better-for-you and Hispanic snack pellets used in salty snacks. The acquisition is intended to serve as a platform for building a North American business-to-business salty snack manufacturing business focused on the better-for-you and Hispanic segments.

Crediclub entered into a binding agreement to partner with L Catterton, under which L Catterton Latin America will acquire a significant minority stake in the Mexico-based lending and digital financial services platform. The investment is intended to provide growth capital and operational support to expand Crediclub’s product offering, customer acquisition, technology capabilities, and brand awareness, subject to regulatory approvals.

Accel-KKR portfolio company Siigo has closed its acquisition of Aspel, a Mexico City-based administrative, accounting, and finance ERP software provider. The deal expands Siigo’s footprint in Latin America and increases its SME customer base to more than 1.2 million. Siigo also committed to invest over $20 million in product development to build a leading SME ERP cloud solution for the Mexican market.

Deloitte has acquired Dextra Technologies, a Mexico-based product engineering services and embedded software firm. The deal expands Deloitte Consulting’s capabilities in embedded software and smart connected products, supporting initiatives across IoT, autonomous driving, and Industry 4.0.

CEMEX, S.A.B. de C.V. announced the acquisition of Broquers Ambiental, a sustainable waste management company focused on the separation, recovery, and treatment of urban solid waste in Queretaro, Mexico. The deal supports CEMEX’s “Future in Action” program by using processed waste as alternative fuel for its cement operations in Mexico to reduce CO2 emissions and advance circular-economy goals.

Industrias Bachoco S.A.B. de C.V. concluded an agreement to purchase 100% of the shares of RYC Alimentos (RYC), a multi-protein meat processor and distributor in Mexico. The deal includes two processing plants in Puebla and approximately 21 retail stores across Puebla, Oaxaca, Veracruz, and Tlaxcala, with RYC’s equity valued at about US$61 million.

Habi announced the acquisition of OKOL, the parent company of Mexico-based residential real estate marketplace Propiedades.com and brokerage/iBuyer Tu Canton. The deal expands Habi’s presence in Mexico and combines Habi’s iBuying and data-driven residential platform with Propiedades.com’s listing portal scale and Tu Canton’s brokerage and iBuying operations.

Playmaker Capital Inc. acquired Mexico-based video-first sports media platform Cracks, YouTube’s largest Spanish-language sports news channel. Under an asset purchase agreement, Playmaker purchased 100% of Cracks’ digital assets, marks, and copyright for up to US$1.7 million, consisting of US$0.4 million paid at closing and up to US$1.3 million in milestone-based earnout payments over the following 12 months.

Pretium Packaging, backed by Clearlake Capital Group, completed the acquisition of Grupo Edid (Ediplast SA de CV, Edipacks SA de CV, Refrepet SA de CV, and Ediprint SA de CV), a family-owned rigid packaging manufacturer and paperboard printer. The deal expands Pretium’s manufacturing and customer footprint into Mexico and adds sustainability-focused plastic and printed packaging capabilities. Financial terms were not disclosed.

Dock, a Latin American fintech infrastructure provider, completed its acquisition of Cacao, a Mexico-based card processing solutions provider that will be rebranded under the Dock name. The transaction expands Dock’s footprint in Mexico and supports its strategy to offer integrated card issuing, acquiring, and banking-as-a-service capabilities across Latin America.

I Squared Capital has completed the acquisition of KIO Networks, Mexico’s largest data center operator and a leading digital infrastructure services provider. KIO Networks operates a regional platform of data centers across Mexico, Central America and the Caribbean, and also provides managed services for cloud, cybersecurity, and business applications.

Ben & Frank, a direct-to-consumer omnichannel eyewear brand, received a strategic investment from L Catterton’s Latin America fund to accelerate growth and expansion across Mexico and Latin America. Existing investor DILA Capital also participated in the funding round; financial terms were not disclosed.

ShipMonk, an e-commerce fulfillment and inventory management provider, announced its international expansion through the acquisition of El Mar Mexico (321 Fulfillment of Mexico). The acquired fulfillment center in Tecate, Mexico becomes ShipMonk’s first warehouse facility outside the United States and will support cross-border fulfillment benefiting from U.S. CBP Section 321 de minimis import rules.

SyBridge Technologies, through its subsidiary Concours Technologies, completed the acquisition of the assets of Toolplas Systems México S. de R.L. de C.V. The deal expands SyBridge’s service footprint in Mexico by adding a dedicated service center in the Querétaro area to support injection molding-related customer needs.

L Catterton entered into a definitive agreement to sell Cholula, a hot sauce producer and distributor, to McCormick & Company for $800 million, subject to customary closing conditions. L Catterton acquired Cholula in April 2019 and grew the brand through investments in commercial execution, restaurant partnerships, and retail distribution.

Te Creemos Holdings, a portfolio company of PC Capital, acquired the loan portfolio and certain operating assets of Financiera Finsol, a subsidiary of Financiera Independencia. The transaction strengthens Te Creemos’ position in Mexico’s microfinance market and expands its branch and loan portfolio scale.

CapitalWorks’ portfolio company Libra Industries acquired a contract manufacturing facility in Guaymas, Mexico, previously operated by Benchmark Electronics, Inc.; financial terms were not disclosed. The facility manufactures complex assemblies and sub-assemblies for customers across aerospace & defense, medical, semiconductor, and industrial end markets, expanding Libra’s manufacturing footprint and capabilities.

Data Migration Resources (DMR) acquired Mexico-based Dabarc Systems in a cross-border transaction, with Bridgepoint Investment Banking acting as DMR’s sole M&A advisor. The deal expands DMR’s Latin America footprint and adds Dabarc’s SAP-focused enterprise data management consulting capabilities across data migration, governance, and master data solutions.

L Catterton completed its previously announced acquisition of Cholula, a producer and distributor of hot sauce. The financial terms of the transaction were not disclosed, and L Catterton plans to support the brand’s continued expansion.

Grupo MYT received a significant strategic investment from L Catterton Latin America to support and accelerate its expansion across Mexico. The financial terms of the transaction were not disclosed.