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North American Corporation and WAXIE Sanitary Supply announced in a statement that their partnership with FEMSA, a global leader in production, retail and logistics, has become official.
The companies are each regional leaders in the jan/san, packaging and specialty products distribution industry serving government, commercial and industrial clients with the brands they know and trust. Together, they will have significant national scale, operating a network of 26 distribution centers across the country.
“We see enormous opportunity to unite a fragmented market and scale the expertise and success of WAXIE and North American,” says Alfonso Garza, executive vice president FEMSA, Strategic Businesses. “We intend to build upon the customer service excellence for which they are known, to grow our relationships and reach across the United States.”
North American and WAXIE are highly complementary businesses with little overlap in existing customers and geographies. The two companies also match up well with vendors and product categories that allow customers to ensure a safe, healthy and clean environment. By combining strengths and capabilities, the companies will expand available portfolio offerings while also diversifying across multiple product categories and vertical markets.
Even as they operate as a single entity, WAXIE and North American will maintain their respective identities.
“Today we begin the next chapter of North American’s storied history,” says John Miller. “Together with FEMSA and WAXIE we are building a very special company, committed to excellence in all we do, and placing the needs of our customers at the forefront of all our efforts.”
“This is a great growth opportunity for all of us and one that will significantly advance the jan-san industry," says Charles Wax, chairman and CEO of Waxie. FEMSA’s strategy aligns well with our culture and their distribution and logistics expertise will complement the industry insights and relationships of both WAXIE and North American.”
FEMSA has acquired a majority interest in the new partnership and John Miller and Charles Wax will serve as co-CEOs and remain minority investors. A publicly traded company on the New York Stock Exchange, FEMSA’s mission is to drive both economic and social value through its businesses. Its vision includes a focus on long-term prosperity and ownership, putting the values of integrity, responsibility, professional development and service at the forefront.