Reuters.- Grupo Axo, a company that markets luxury brands, mainly clothing, footwear and accessories, completed the acquisition of Tennix, a company that operates in Mexico the casual footwear stores The Athlete’s Foot or TAF, as well as Truekids, operation announced in September.
The company liquidated the transaction, whose details were not revealed, with part of the credit that contracted with various financial institutions, including the financial groups BBVA Bancomer, HSBC and Banorte, Axo said in a statement in a statement.
"We are proud to successfully conclude this acquisition with which we include a great global brand such as TAF," said Andrés Gómez Martínez, president of the Company's Board of Directors, cited in the statement.
The closure of the operation was already expected after last week Axo announced that it would exercise bank credit for the settlement of an acquisition, in addition to financing for capital expenses, and other corporate purposes.
Con esta compra, Axo cuenta ya con más de 149 tiendas en México de las diferentes marcas que opera, entre ellas Abercrombie & Fitch, Calvin Klein, Chaps, Coach, Guess, Hollister, Nike, Tommy Hilfiger, Victoria´s Secret, Warner´s y Promoda.
