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DOLLARAMA INCREASES EQUITY INTEREST AND EXPANDS PARTNERSHIP IN LATIN AMERICA
DOLLARAMA INCREASES EQUITY INTEREST AND EXPANDS PARTNERSHIP IN LATIN AMERICA Canada New...
About this update from Dollarama Inc.
[{"type":"text","content":"\n \n \n \n DOLLARAMA INCREASES EQUITY INTEREST AND EXPANDS PARTNERSHIP IN LATIN AMERICA\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Increases equity interest in Dollarcity to 60.1% with acquisition of additional 10.0% stake\n \n \n Acquires option to purchase additional 9.89% equity interest in the future\n \n \n Expands partnership countries to include\n \n Mexico\n \n with an 80.05% equity interest and initial entry planned for 2026\n \n \n \n \n MONTREAL\n \n ,\n \n June 12, 2024\n \n /CNW/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") announced today that it has acquired an additional 10.0% equity interest in Latin American value retailer Dollarcity in exchange for the issuance of 6,060,478 common shares of Dollarama. As a result, Dollarama now owns a 60.1% equity interest in Dollarcity and has an option to purchase an additional 9.89% equity interest at any time on or before December 31, 2027.\n \n \n Dollarama and the Dollarcity founding stockholders have also agreed on governance terms providing for the future expansion of the business to a new country,\n \n Mexico\n \n . Dollarama and the Dollarcity founding stockholders will indirectly have an 80.05% and 19.95% equity interest, respectively, in the\n \n Mexico\n \n portion of the business. Dollarcity intends to pilot its first store in\n \n Mexico\n \n in calendar 2026.\n \n \n \"Dollarcity continues to represent a compelling, long-term growth platform for Dollarama, with the Dollarcity leadership team successfully executing on its strategy throughout the course of our over decade-long partnership. Since we initially acquired a majority equity interest in 2019, Dollarcity has more than tripled its revenues and significantly grown its presence in key LATAM markets, demonstrating the underlying strength of its business model and the appetite for our value proposition from LATAM consumers,\" said Neil Rossy, President and Chief Executive Officer of Dollarama.\n \n \n \"With its strong leadership team, Dollarcit...