MEXICO - On September 20, Grupo Gigante reported that, in accordance with its strategic plan and particularly regarding the treatment of non-strategic assets, its subsidiary Office Depot de México, S.A. de C.V. (ODM), made the determination to exit the Colombian market and divest itself of its assets and conclude its operations in said market.

ODM's activities in Colombia were consolidated through its subsidiary OD Colombia, S.A.S. (ODC) and consisted of the operation of three stores under the "Office Depot" brand, a distribution center and a paper production and transformation plant.

At the end of 2019, the Colombian operation represented for ODM, at a consolidated level, only 2.82% of its income and 1.60% of its total liabilities, with operations also in Central America and Chile.

Grupo Gigante, whose shares are low on the Mexican Stock Exchange, bought its entire unit in the country from its US partner Office Depot in 2013.

Its portfolio of brands also includes the local business of the restaurant chains Panda Express and Shake Shack, as well as the electronic stores Radio Shack de México.