MEXICO CITY--Grupo Protexa, a privately held Mexican conglomerate, has signed a letter of intent with Tri-National Development, an international real-estate management firm, to form a joint venture to build andoperate convenience stores. The joint venture plans to open 50 Circle K stores in the state of Baja California. Baja California is one of Mexico's most sparsely populated states but boasts a thriving tourism industry. Many of the visitors come from the U.S., especially California, and are familiar with the Circle K brand.
Copyright March 1999, Crain Communications Inc.