Grupo Carso takes value out of bankruptcies
Throughout its history, Grupo Carso has shown great success in converting non-productive assets and non-profitable retail formats, successfully integrating and optimizing them.
An example of this are the shopping centers in Plaza Carso, Nuevo Veracruz, the Paradero de Ciudad Azteca, the Operational Center of the Federal Preventive Police and, recently, the urbanization and reorganization of the ETRAM Toreo.
These lands were dedicated to industrial use and comprehensive projects were developed with housing buildings, shopping centers and a cultural area, as well as initiatives for the renovation of the area.
Another example was Sears Mexico in 1997, a format that operated 40 stores that constantly generated financial losses.
Just one year after the purchase by Grupo Carso and the implementation of efficiency measures, the format began to generate profits.
Similarly, in 2003 Grupo Carso acquired six JC Penney stores that were not profitable and six years later these had been converted into Sears stores, reaching balanced operating margins.
Carso Group
The conglomerate has also been successful in incorporating new formats to its business portfolio, thereby complementing the value-added offer and growth potential.
This is the case of the participation that was acquired between 1980 and 1990 of the majority of the shares of Cigatam, Fábrica de Papel Loreto and Peña Pobre, Sanborns Hermanos and Empresas Frisco, companies that are currently still part of the consortium.
In 2010, the luxury department store Saks Fifth Avenue was introduced in Mexico, as well as the license obtained in 2010 for the distribution of Apple-brand products and accessories in the country.
Then, in 2011 and as part of the creation of a new energy division, Tabasco Oil Company and Bronco Drilling MX were acquired.
Recently, 33.3% of the capital of Miniso BF Holding was acquired, with the aim of diversifying in the sale of low-cost variety items for the whole family.
Today, the Group generates value by participating in tenders for construction, infrastructure and oil projects, seeking new business opportunities in other countries, such as the projects in Nicaragua and Panama with FCC Construcción.
Likewise, value is generated through the diversification of the cable portfolio, improving operations and supporting innovation through the Carso Research and Development Center (Cidec), offering cutting-edge processes and products on a global scale, such as flat battery cable from aluminum with a 48-volt automotive connectivity system, of which it has industrial design rights in Mexico.
