TJX (TJX) said Friday it has entered into a joint venture with Mexican multibrand retailer Grupo Axo, which operates in several Latin American countries.
Under the terms of the deal, TJX would own 49% and Axo would own 51% of the joint venture, which would include 200 of Axo's off-price retail outlets in Mexico.
According to TJX, financial terms of the transaction will be disclosed after the closing, expected later this year.
TJX said it does expect the proposed deal to impact its guidance for current fiscal year 2025.
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