$43 million deal gives RadioShack Corp. full ownership of Mexico stores

01:36 PM CST on Tuesday, December 16, 2008
By MARIA HALKIAS / The Dallas Morning News
mhalkias@dallasnews.com

RadioShack Corp. said on Tuesday that it paid $43 million in cash to its joint venture partner, Grupo Gigante S.A.B. de C.V., for its stake in the electronics chain’s Mexico operations.


The Fort Worth-based company is now the sole owner of about 200 RadioShack branded stores throughout Mexico.


RadioShack plans to operate the stores and related general office, service center and distribution center in Mexico as a wholly-owned subsidiary. All of the stores and support facilities are leased locations. The stores average approximately 1,300 square feet and are primarily in shopping centers. RadioShack de Mexico employs approximately 1,200 people.


The Mexican operation “represents an attractive growth platform for our company,â€