MEXICO CITY, Aug 30 (Reuters) - Mexican broadcaster Televisa and Genomma Lab Internacional unveiled a strategic alliance on Sunday to sell personal care and over-the-counter medicines in the United States and Puerto Rica.
The alliance is due to be operating by the end of the year via a company called Televisa Consumer Products USA, or TCP, 51-percent owned by Televisa (TLVACPO.MX) (TV.N) and 49 percent by Genomma (LABB.MX), the companies said in a joint statement.
They said Televisa would make available its U.S. and Puerto Rican media platforms to TCP, which will provide advertising for Genomma Lab’s brands as well as help it expand from Latin America to reach Hispanic consumers in the United States.
Genomma sells over-the-counter medicines and beauty products ranging from anti-wrinkle creams to scar ointments.
Financial terms of the alliance were not provided.