Cancun, Q.R. — One of Cancun’s busiest grocery stores has a new look and a new name. The city’s popular downtown Comercial Mexicana has been bought by Mexican Soriana, who purchased a majority of the company’s shares nearly three years ago.
Comercial Mexicana will now be part of the commercial chain of Grupo Soriana. Three years ago, Grupo Soriana bought a majority of Comercial Mexicana shares including promotions such as “Julio Regalado” or “Wednesday de Plaza” with the purpose of expanding its business throughout the country.
“This is a strategic move by Soriana that will allow them to have more presence in the center of the country and strengthen its position as the second largest self-service operator in Mexico,” said Carlos Gonzalez, director of Analysis of Monex Casa de Bolsa.
The purchase of Soriana included 160 self-service stores, divided into “118 own and 42 rented stores, three distribution centers, 18 territorial reserves as well as other real estate properties, through a public offering,” reported Comercial Mexicana.
The negotiation included Comercial Mexicana, Mega, Bodega Comercial Mexicana and Alprecio, leaving out City Market, Fresko and Sumesa that are now part of La Comer. Although both shared the famous toucan logo, they are no longer the same.
Soriana will have different store variants such as Soriana Mercado, Mega Soriana and Soriana Hiper, which will see the slow disappearance of Comercial Mexicana disappear little by little.
Until now, the name of Comercial Mexicana was valid due to the commitment that Soriana had until the beginning of the year to maintain the old name, but the term is expiring and it has been predicted that by the end of May the Comercial Mexicana brand will no longer exist.