Westminster Group Plc. is pleased to announce that it has signed a new 10 year franchise agreement with Marat International Sa de CV (the ‘Agreement’) for Mexico which will operate under the name of Westminster Mexico SA de CV.
Under the Agreement Westminster has licensed the use of the Westminster brand and Westminster Mexico will have exclusive rights to promote and deliver the wide range of products and solutions offered by the Westminster and its various subsidiaries under the Westminster Brand within Mexico.
Commenting on the new franchise Peter Fowler, Chief Executive of Westminster Group, said:
“I am delighted to be able to announce our latest franchise operation for Mexico which we see as an important and growing market for our products and services and I am equally delighted to have Marat International SA de CV as our Franchisee, given their experience and extensive business experience and connections in Mexico.
“Mexico is the 2nd largest economy in Latin America and one of the “Mint” countries which are forecast as the next emerging economic giants. The IMF expects Mexico to be the 10th largest economy in 2014 and analysts predict it will be the world’s 7th largest economy by 2050. This economic growth combined with internal security requirements make it a logical market for Westminster.
“This latest example of our expansion into growing economies in different parts of the world underpins our strategy of diversification and will not only enhance our international presence and strong corporate brand but, with the potential that Mexico offers, we expect Westminster Mexico to be a great success and to realise substantial business in the country.”