Gigante and Petco in deal to open stores in Mexico and Latin America

New York -- Mexican supermarket and restaurant operator Gigante has entered into a joint venture with Petco Animal Supplies to open at least 50 stores in Mexico and other Latin American countries over seven years, Reuters reported.



The first two Petco stores will open this year in Mexico City and Guadalajara, Gigante said in a release to the stock exchange.



The financial terms of the agreement were not disclosed.