MEXICO CITY Jan 24 Mexican supermarket and
restaurant operator Gigante said on Thursday it entered a joint
venture with U.S. pet product supplier Petco Animal Supplies to
open at least 50 stores in Mexico and other Latin American
countries over seven years.
No financial terms were disclosed. The first two Petco
stores will open this year in Mexico City and
Guadalajara, Gigante said in a release to the stock
Gigante will face tough competition from other local pet
supply stores like +Kota, which has more than 100 stores in
Mexico, mostly in or near the capital.
Gigante has been expanding outside its core supermarket
operation in recent years, bringing in partners like office
supplier Office Depot and Chinese food chain Panda Express to
broaden its business portfolio.