Grupo Axo to acquire C&A Mexico and accelerate growth of the brand in Mexico

• Grupo Axo reaches agreement with C&A AG for the proposed acquisition of C&A Mexico
• C&A Mexico further enhances Grupo Axo’s fashion retail portfolio with its highly complementary brand
• Grupo Axo is well positioned to accelerate C&A Mexico’s expansion and omnichannel strategy for long-term growth

Mexico City, Mexico, and Zug, Switzerland, 20 February 2020 – The Boards of Grupo Axo, S.A.P.I. de C.V. (“Grupo Axo”) and C&A AG today announced the proposed acquisition of C&A México, S. de R.L. (“C&A Mexico”) and its subsidiaries by Grupo Axo. The proposed transaction remains subject to customary closing conditions, including approval from the Federal Commission of Economic Competition of Mexico (Comisión Federal de Competencia Económica).