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{{short description|Mexican multinational beverage and retail company}}
{{Infobox company
{{Infobox company
| name = Fomento Económico Mexicano, S.A.B. de C.V.
| name = Fomento Económico Mexicano, S.A.B. de C.V.
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| logo_size = 250px
| logo_size = 250px
| type = [[S.A. (corporation)|Sociedad Anónima Bursátil de Capital Variable]]
| type = [[S.A. (corporation)|Sociedad Anónima Bursátil de Capital Variable]]
| traded_as = {{BMV|FEMSA|5305}} {{NYSE|FMX}}
| traded_as = {{BMV|FEMSA|5305}}<br>{{nyse|FMX}} (ADR)
| area_served = [[Latin America]] and the [[United States]]
| area_served = [[Latin America]] and the [[United States]]
| key_people = [[José Antonio Fernández Carbajal|José Antonio Fernández]]<br>([[Chairman]])<br>Eduardo Padilla Silva<br>([[CEO]])
| key_people = [[José Antonio Fernández Carbajal|José Antonio Fernández]]<br>([[Chairman]])<br>Eduardo Padilla Silva<br>([[CEO]])<br>John Anthony Santa María Otazúa<br>(CEO of [[Coca-Cola FEMSA]])<ref>{{cite web|url=https://www.bloomberg.com/profile/person/1983036|title=John Anthony Santa María Otazua Chief Executive Officer|publisher=Bloomberg}}</ref><br>Carlos Arenas<br>(CEO of OXXO)
| industry = [[Drink|Beverage]], [[Retail]]
| industry = [[Drink|Beverage]], [[Retail]]
| revenue = {{increase}} [[Mexican peso|MXN$]]506.7 billion <small>(2019)</small>
| revenue = {{increase}} [[Mexican peso|MXN$]]506.7 billion <small>(2019)</small>
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| assets = {{increase}} MXN$637.5 billion <small>(2019)</small>
| assets = {{increase}} MXN$637.5 billion <small>(2019)</small>
| num_employees = +230,000
| num_employees = +230,000
| divisions = [[Coca-Cola FEMSA]]<br>FEMSA Comercio<br>FEMSA Negocios Estrategicos
| divisions = [[Coca-Cola FEMSA]]<br>FEMSA Comercio<br>FEMSA Negocios Estrategicos<br />[[Heineken N.V.|Heineken]] (8%)<ref>[https://www.reuters.com/markets/deals/mexicos-femsa-shifts-focus-retail-bottling-heineken-stake-2023-02-17/ Mexico's FEMSA focuses back on retail, bottling with Heineken stake sale] (Reuters, February 17, 2023)</ref>
| location =
| location =
| location_city = [[Monterrey]]
| location_city = [[Monterrey]], [[Nuevo León]]
| location_country = [[Mexico]]
| location_country = [[Mexico]]
| foundation = {{Start date and age|1890}}
| foundation = {{Start date and age|1974}}
| homepage = {{URL|http://www.femsa.com/en}}
| homepage =
}}
}}


'''Fomento Económico Mexicano, S.A.B. de C.V.''', doing business as '''FEMSA''', is a Mexican [[Multinational corporation|multinational]] [[beverage]] and [[retail]] company headquartered in [[Monterrey]], [[Mexico]]. It integrates the largest independent Coca-Cola bottling group in the world and the largest [[convenience store]] chain in Mexico. It is also the second largest shareholder of [[Heineken N.V.]].
'''Fomento Económico Mexicano, S.A.B. de C.V.''', doing business as '''FEMSA''', is a Mexican [[Multinational corporation|multinational]] [[beverage]] and [[retail]] company headquartered in [[Monterrey]], [[Mexico]]. It operates the largest independent Coca-Cola bottling group in the world and the largest [[convenience store]] chain in Mexico. It is also a shareholder of [[Heineken N.V.]]


FEMSA reported revenues of US$26.9 billion for 2019, making it the fifth largest company of Mexico.<ref>{{cite web |url=http://www.cnnexpansion.com/rankings/interactivo-las-500/2014 |title=Top 10 del Ranking 2014 |publisher=CNN Expansión |access-date=2014-06-26 |url-status=dead |archive-url=https://web.archive.org/web/20140627121854/http://www.cnnexpansion.com/rankings/interactivo-las-500/2014 |archive-date=2014-06-27 }}</ref> It has operations in [[Latin America]] mainly through bottling plants, convenience stores, drugstores, fuel stations, and third-party logistic services, and in the [[United States]], where it participates in the jan-san distribution industry. It is well known in Mexico for its convenience store chain [[Oxxo]], it previously owned [[Cuauhtémoc Moctezuma Brewery]] (exchanged in 2010 for a 20% stake in [[Heineken]]), and for being the owner of the [[C.F. Monterrey]], a Mexican First-Division [[football (soccer)|football]] team.
FEMSA reported revenues of US$26.9 billion for 2019, making it the fifth largest company of Mexico.<ref>{{cite web |url=http://www.cnnexpansion.com/rankings/interactivo-las-500/2014 |title=Top 10 del Ranking 2014 |publisher=CNN Expansión |access-date=2014-06-26 |url-status=dead |archive-url=https://web.archive.org/web/20140627121854/http://www.cnnexpansion.com/rankings/interactivo-las-500/2014 |archive-date=2014-06-27 }}</ref> It has operations in [[Latin America]] mainly through bottling plants, convenience stores, drugstores, fuel stations, and third-party logistic services, and in the [[United States]], where it participates in the jan-san distribution industry. It is well known in Mexico for its convenience store chain [[Oxxo]], it previously owned [[Cuauhtémoc Moctezuma Brewery]] (exchanged in 2010 for a 20% stake in [[Heineken N.V.]]), and for being the owner of [[C.F. Monterrey]], a [[Liga MX]] [[football (soccer)|football]] team.


FEMSA has been listed on the [[Mexican Stock Exchange]] since 1978 and on the [[NYSE]] through [[American Depositary Receipt|ADRs]] since 1998. It is a constituent of the [[Indice de Precios y Cotizaciones|IPC]], the main benchmark index of the [[Mexican Stock Exchange]], and of the [[S&P Latin America 40]], which includes leading, [[Blue chip (stock market)|blue chip]] companies from [[Latin America]].
FEMSA has been listed on the [[Mexican Stock Exchange]] since 1978 and on the [[NYSE]] through [[American Depositary Receipt|ADRs]] since 1998. It is a constituent of the [[Indice de Precios y Cotizaciones|IPC]], the main benchmark index of the [[Mexican Stock Exchange]], and of the [[S&P Latin America 40]], which includes leading, [[Blue chip (stock market)|blue chip]] companies from [[Latin America]].


==History==
==History==
Cuauhtémoc brewery was established in 1890.<ref name="homebrewacademy">{{cite web|url=https://homebrewacademy.com/history-of-mexican-beer/|title=The History of Cinco de Mayo and Mexican Beer|publisher=Home Brew Academy|access-date=21 January 2021}}</ref>
FEMSA originated from the ''Cervecería Cuauhtemoc'' brewery, which was established by [[Isaac Garza Garza]] in 1890.<ref name="homebrewacademy">{{cite web|url=https://homebrewacademy.com/history-of-mexican-beer/|title=The History of Cinco de Mayo and Mexican Beer|date=May 2020 |publisher=Home Brew Academy|access-date=21 January 2021}}</ref> In 1909, Garza founded ''Vidriera Monterrey'' (now [[Vitro]]) to produce bottles for the Cuauhtémoc brewery.


The vertical strategic integration of ''Cervecería Cuauhtemoc'' began in 1936, with the establishment of ''Fábricas Monterrey, S.A. de C.V.'' for the production of bottle caps. Packaging operations expanded in 1957 with the production of labels and flexible packaging. During this period, FEMSA's operations were part of what became known as ''Grupo Monterrey'' (''lit.'' the Monterrey Group), which also included interests in banking, steel, and other packaging operations.
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In 1985, Cuauhtémoc merged with Moctezuma to form Cervecería Cuauhtémoc Moctezuma.<ref name="homebrewacademy" /> FEMSA was established from Grupo Visa in 1988.<ref>{{cite web|url=https://books.google.com/books?id=zwUXDAAAQBAJ&pg=PA57&lpg=PA57&dq=femsa+1988&source=bl&ots=Qxp27y7vpC&sig=ACfU3U3Q8yOjhzypPfNgBSpcAjdUtE4vnQ&hl=en&sa=X&ved=2ahUKEwjB7tnFltToAhUEWK0KHSZMBV8Q6AEwBnoECAwQLw#v=onepage&q=femsa%201988&f=false|title=Mexican Business Culture: Essays on Tradition, Ethics, Entrepreneurship and Commerce and the State|publisher=McFarland|author=John T. Hyatt|access-date=21 January 2021}}</ref>


In 1974, ''Grupo Monterrey'' was divided into two branches by the descendants of the founding families of ''Cervecería Cuauhtémoc''. The steel and packaging operations gave rise to the creation of ''Corporación Siderúrgica S.A.'' (later consolidated into [[ALFA (Mexico)|Grupo ALFA]]), which would be controlled by the Garza Sada family, and the beverage and banking operations led to the creation of FEMSA, whose control fell to the Garza Lagüera family. FEMSA was listed on the [[Mexican Stock Exchange]] on September 19, 1978.
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In 1993, Coca-Cola purchased a 30 percent stake in FEMSA, creating the Coca-Cola FEMSA division.<ref>{{cite web|url=https://www.nytimes.com/1993/04/27/business/coke-plans-to-buy-30-stake-in-mexican-soft-drink-unit.html|title=Coke Plans to Buy 30% Stake In Mexican Soft Drink Unit|publisher=The New York Times|author=Tim Golden|access-date=21 January 2021}}</ref>


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In 1985, Cuauhtémoc merged with Moctezuma to form Cervecería Cuauhtémoc Moctezuma.<ref name="homebrewacademy" /> FEMSA then undertook an extensive corporate and financial restructuring that was completed in December 1988.<ref>{{cite book|url=https://books.google.com/books?id=zwUXDAAAQBAJ&q=femsa+1988&pg=PA57|title=Mexican Business Culture: Essays on Tradition, Ethics, Entrepreneurship and Commerce and the State|publisher=McFarland|author=John T. Hyatt|date=27 April 2016|isbn=9781476623139|access-date=21 January 2021}}</ref>
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In January 2006, FEMSA Cerveza acquired Kaiser Cervejarias from [[Molson|Molson Coors Brewing Co.]]<ref>[http://www.molsoncoors.com/press/01_15_06.html Molson Coors] {{Webarchive|url=https://web.archive.org/web/20071011052646/http://molsoncoors.com/press/01_15_06.html |date=2007-10-11 }} Press release</ref>

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In 1993, Coca-Cola purchased a 30 percent stake in FEMSA, creating the Coca-Cola FEMSA division.<ref>{{cite news|url=https://www.nytimes.com/1993/04/27/business/coke-plans-to-buy-30-stake-in-mexican-soft-drink-unit.html|title=Coke Plans to Buy 30% Stake In Mexican Soft Drink Unit|work=The New York Times|author=Tim Golden|date=27 April 1993 |access-date=21 January 2021}}</ref>

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In January 2006, FEMSA Cerveza acquired [[Kaiser (company)|Kaiser Cervejarias]] from [[Molson|Molson Coors Brewing Co.]]<ref>[http://www.molsoncoors.com/press/01_15_06.html Molson Coors] {{Webarchive|url=https://web.archive.org/web/20071011052646/http://molsoncoors.com/press/01_15_06.html |date=2007-10-11 }} Press release</ref>


On December 19, 2006, Coca-Cola FEMSA announced its attempt to buy out Mexican juice producer [[Jugos del Valle]]. It was acquired in 2007.
On December 19, 2006, Coca-Cola FEMSA announced its attempt to buy out Mexican juice producer [[Jugos del Valle]]. It was acquired in 2007.


On December 20, 2007, [[Cascade Investments LLC]], whose main partner is [[Bill Gates]], announced it would invest $390 million in FEMSA. The Reuters news agency stated that after this investment, "Gates owns a 1.2 percent stake in Femsa’s Series B shares, a 5 percent stake in Series D-B shares, and a 5 percent stake in Series D-L shares." This investment caused the Bill and Melinda Gates' foundation to become the institutional holder possessing the most shares of FEMSA.<ref>{{Cite news|url=https://www.reuters.com/article/us-mexico-femsa-gates-idUSN2021965120071221|title=Bill Gates buys stake in Mexican brewer Femsa|date=2007-12-21|work=Reuters|access-date=2019-09-30|language=en}}</ref>
On December 20, 2007, [[Cascade Investments LLC]], whose main partner is [[Bill Gates]], announced it would invest $390 million in FEMSA. The Reuters news agency stated that after this investment, "Gates owns a 1.2 percent stake in Femsa's Series B shares, a 5 percent stake in Series D-B shares, and a 5 percent stake in Series D-L shares." This investment caused the Bill and Melinda Gates' foundation to become the institutional holder possessing the most shares of FEMSA.<ref>{{Cite news|url=https://www.reuters.com/article/us-mexico-femsa-gates-idUSN2021965120071221|title=Bill Gates buys stake in Mexican brewer Femsa|date=2007-12-21|work=Reuters|access-date=2019-09-30|language=en}}</ref>


On January 11, 2010, the [[Netherlands|Dutch]] [[brewing company]] [[Heineken International]] purchased FEMSA Cerveza ([[Cervecería Cuauhtémoc Moctezuma]]), the beer operations of FEMSA, in a stock swap that left FEMSA a 20% owner in the Heineken overall.<ref>{{cite news| url=http://news.bbc.co.uk/2/hi/business/8451617.stm | work=BBC News | title=Heineken agrees Mexican beer deal | date=January 11, 2010 | access-date=May 2, 2010}}</ref>
On January 11, 2010, the [[Netherlands|Dutch]] [[brewing company]] [[Heineken International]] purchased FEMSA Cerveza ([[Cervecería Cuauhtémoc Moctezuma]]), the beer operations of FEMSA, in a stock swap that left FEMSA a 20% owner in the Heineken.<ref>{{cite news| url=http://news.bbc.co.uk/2/hi/business/8451617.stm | work=BBC News | title=Heineken agrees Mexican beer deal | date=January 11, 2010 | access-date=May 2, 2010}}</ref>


In 2011, Coca-Cola FEMSA acquired regional Mexican Coke bottler Grupo Cimsa for 11 billion MXN (US$838 million).<ref name=grupocimsa>{{cite web| last = Guthrie| first = Amy| title = Mexico's Coca-Cola Femsa to buy bottler Cimsa| work = MarketWatch| access-date = 2015-04-12| url = http://www.marketwatch.com/story/mexicos-coca-cola-femsa-to-buy-bottler-cimsa-2011-09-19}}</ref>
In 2011, Coca-Cola FEMSA acquired regional Mexican Coke bottler Grupo Cimsa for 11 billion MXN (US$838 million).<ref name=grupocimsa>{{cite web| last = Guthrie| first = Amy| title = Mexico's Coca-Cola Femsa to buy bottler Cimsa| work = MarketWatch| access-date = 2015-04-12| url = http://www.marketwatch.com/story/mexicos-coca-cola-femsa-to-buy-bottler-cimsa-2011-09-19}}</ref>


In July 2012, Coca-Cola FEMSA announced that it had purchased Lácteos Santa Clara, one of the largest dairy bottlers in Mexico.<ref>{{cite web|url=http://excelsior.com.mx/index.php?m=nota&seccion=opinion-columnistas&cat=31&id_nota=845520 |title=Vía Jugos del Valle, FEMSA toma control del productor de lácteos Santa Clara 2012/07/04 &#124; Excélsior |language=es|publisher=Excelsior.com.mx |access-date=2017-12-13}}</ref>
In July 2012, Coca-Cola FEMSA announced that it had purchased Lácteos Santa Clara, one of the largest dairy bottlers in Mexico.<ref>{{cite web|url=http://excelsior.com.mx/index.php?m=nota&seccion=opinion-columnistas&cat=31&id_nota=845520 |title=Vía Jugos del Valle, FEMSA toma control del productor de lácteos Santa Clara 2012/07/04 &#124; Excélsior |date=19 January 2013 |language=es|publisher=Excelsior.com.mx |access-date=2017-12-13}}</ref>


In August 2015, FEMSA, through its subsidiary FEMSA Comercio entered the drugstore business in South America by acquiring a majority interest in Socofar, a leading South American drugstore operator based in Santiago, Chile.<ref name>{{cite news |url=https://www.rttnews.com/2541494/femsa-comercio-to-buy-majority-stake-in-chile-s-grupo-socofar-for-998-mln.aspx |title=FEMSA Comercio To Buy Majority Stake In Chile's Grupo Socofar For $998 Mln|date=14 August 2015 |work=RTT News}}</ref>
In August 2015, FEMSA, through its subsidiary FEMSA Comercio entered the drugstore business in South America by acquiring a majority interest in Socofar, a leading South American drugstore operator based in Santiago, Chile.<ref>{{cite news |url=https://www.rttnews.com/2541494/femsa-comercio-to-buy-majority-stake-in-chile-s-grupo-socofar-for-998-mln.aspx |title=FEMSA Comercio To Buy Majority Stake In Chile's Grupo Socofar For $998 Mln|date=14 August 2015 |work=RTT News}}</ref>


In March 2017, FEMSA's Imbera division announced their shift to hydrocarbons in manufacturing their Coke beverage coolers.<ref name>{{cite news |url=http://hydrocarbons21.com/articles/7520/imbera_migrates_coke_coolers_to_hcs |title=Imbera migrates Coke coolers to HCs|last=Garry|first=Michael|date=20 March 2017 |work=Hydrocarbons 21}}</ref> The company enacted the manufacturing shift in order to meet higher efficiency standards. In October 2017, FEMSA Logistica rebranded to Solistica.<ref name>{{cite news |url=http://www.automotores-rev.com/es-solistica-nuevo-nombre-de-femsa-logistica/ |title=Es Solistica, nuevo nombre de FEMSA Logística|last=Silva Mendez|first=Miguel Ángel|date=20 October 2017 |work=Automores-Rev}}</ref>
In March 2017, FEMSA's Imbera division announced their shift to hydrocarbons in manufacturing their Coke beverage coolers.<ref>{{cite news|url=http://hydrocarbons21.com/articles/7520/imbera_migrates_coke_coolers_to_hcs|title=Imbera migrates Coke coolers to HCs|last=Garry|first=Michael|date=20 March 2017|work=Hydrocarbons 21|access-date=9 April 2021|archive-date=15 October 2017|archive-url=https://web.archive.org/web/20171015021443/http://hydrocarbons21.com/articles/7520/imbera_migrates_coke_coolers_to_hcs|url-status=dead}}</ref> The company enacted the manufacturing shift in order to meet higher efficiency standards. In October 2017, FEMSA Logistica rebranded to Solistica.<ref>{{cite news |url=http://www.automotores-rev.com/es-solistica-nuevo-nombre-de-femsa-logistica/ |title=Es Solistica, nuevo nombre de FEMSA Logística|last=Silva Mendez|first=Miguel Ángel|date=20 October 2017 |work=Automores-Rev}}</ref>


In early 2019, FEMSA, through its subsidiary FEMSA Comercio, acquired Ecuadorean company Corporacion GPF.<ref name>{{cite news |url=https://www.reuters.com/article/femsa-ecuador-ma/mexicos-femsa-to-enter-ecuadorean-drug-store-business-idUSL2N1WA1RH |title=Mexico's Femsa to enter Ecuadorean drug store business|date=24 September 2018 |work=Reuters}}</ref> In September 2019, FEMSA signed a deal to acquired a minority stake in Jetro Restaurant Depot.<ref name>{{cite news |url=https://www.globenewswire.com/news-release/2019/11/08/1944310/0/en/FEMSA-completes-investment-in-US-cash-and-carry-leader-Jetro-Restaurant-Depot.html |title=FEMSA completes investment in US cash and carry leader Jetro Restaurant Depot|date=8 November 2019 |work=Intrado}}</ref> In November 2019, FEMSA Logistics subsidiary Solistica completed their acquisition of Brazilian company AGV.<ref name>{{cite news |url=https://finance.yahoo.com/news/femsas-fmx-unit-acquires-agv-151603222.html |title=FEMSA's (FMX) Unit Acquires AGV, Expands Footprint in Brazil|date=30 December 2019 |work=Yahoo! Finance}}</ref> Also in November 2019, FEMSA Comercio closed the acquisition of a 50 percent stake in Raizen Conveniencias.<ref name>{{cite news |url=https://www.globenewswire.com/news-release/2019/11/01/1939827/0/en/FEMSA-Comercio-announces-the-Closing-of-joint-venture-agreement-with-Ra%C3%ADzen.html |title=FEMSA Comercio announces the Closing of joint venture agreement with Raízen|date=1 November 2019 |work=Intrado}}</ref>
In early 2019, FEMSA, through its subsidiary FEMSA Comercio, acquired Ecuadorean company Corporacion GPF.<ref>{{cite news |url=https://www.reuters.com/article/femsa-ecuador-ma/mexicos-femsa-to-enter-ecuadorean-drug-store-business-idUSL2N1WA1RH |title=Mexico's Femsa to enter Ecuadorean drug store business|date=24 September 2018 |work=Reuters}}</ref> In September 2019, FEMSA signed a deal to acquire a minority stake in Jetro Restaurant Depot.<ref>{{cite news |url=https://www.globenewswire.com/news-release/2019/11/08/1944310/0/en/FEMSA-completes-investment-in-US-cash-and-carry-leader-Jetro-Restaurant-Depot.html |title=FEMSA completes investment in US cash and carry leader Jetro Restaurant Depot|date=8 November 2019 |work=Intrado}}</ref> In November 2019, FEMSA Logistics subsidiary Solistica completed their acquisition of Brazilian company AGV.<ref>{{cite news |url=https://finance.yahoo.com/news/femsas-fmx-unit-acquires-agv-151603222.html |title=FEMSA's (FMX) Unit Acquires AGV, Expands Footprint in Brazil|date=30 December 2019 |work=Yahoo! Finance}}</ref> Also in November 2019, FEMSA Comercio closed the acquisition of a 50 percent stake in Raizen Conveniencias.<ref>{{cite news |url=https://www.globenewswire.com/news-release/2019/11/01/1939827/0/en/FEMSA-Comercio-announces-the-Closing-of-joint-venture-agreement-with-Ra%C3%ADzen.html |title=FEMSA Comercio announces the Closing of joint venture agreement with Raízen|date=1 November 2019 |work=Intrado}}</ref>


In March 2020, FEMSA acquired a majority stake in WAXIE Sanitary Supply and North American Corporation, to form a new platform within the Jan-San, Packaging and Specialized distribution industry in the United States.<ref name>{{cite news |url=https://www.clearygottlieb.com/news-and-insights/news-listing/femsa-acquires-north-american-and-waxie |title=FEMSA Acquires North American and WAXIE|date=10 March 2020 |work=Cleary Gottlieb}}</ref>
In March 2020, FEMSA acquired a majority stake in WAXIE Sanitary Supply and North American Corporation, to form a new platform within the Jan-San, Packaging and Specialized distribution industry in the United States.<ref>{{cite news |url=https://www.clearygottlieb.com/news-and-insights/news-listing/femsa-acquires-north-american-and-waxie |title=FEMSA Acquires North American and WAXIE|date=10 March 2020 |work=Cleary Gottlieb}}</ref>

In 2022, FEMSA acquired Swiss retail and food service holding company [[Valora (company)|Valora]], which operates multiple brands of convenience stores and quick service food outlets in Switzerland, Germany, Austria, Luxembourg, and the Netherlands.<ref>{{cite web | url = https://femsa.gcs-web.com/news-releases/news-release-details/femsa-completes-acquisition-valora | title = FEMSA completes acquisition of Valora | date = 10 Oct 2022 | publisher = FEMSA | access-date = 9 Oct 2024 | language = en }}</ref><ref>{{cite news | url = https://www.manager-magazin.de/unternehmen/handel/yormas-ditsch-le-crobag-diese-unternehmer-stecken-hinter-den-snack-ketten-an-bahnhoefen-a-6cdd1cf1-3b7f-4d50-a5d1-afb75e9d22a7 | title = Diese Unternehmer stecken hinter Yorma’s, Ditsch und Le Crobag | last = Pekel | first = Charlotte | date = 8 Oct 2024 | website = manager magazin | access-date = 9 Oct 2024 | language = de | quote = Im selben Jahr fiel das Unternehmen in mexikanische Hände: Femsa, der mexikanische Getränkeabfüller und Einzelhandelsriese, übernahm Valora und damit auch das erfolgreiche SB-Konzept. | trans-quote = In the same year, the company fell into Mexican hands: FEMSA, the Mexican beverage bottler and retail giant, took over Valora and with it the successful self-service concept. }}</ref>

In May 2023, FEMSA sold €333 million in [[Heineken N.V.]] to the company. FEMSA will no longer hold any shares in Heineken N.V. and Heineken Holding N.V. other than the Heineken Holding N.V. shares underlying the exchangeable bond.<ref>{{Cite web |title=Heineken N.V. purchases €333 million in shares from FEMSA |url=https://www.theheinekencompany.com/newsroom/heineken-nv-purchases-333-million-in-shares-from-femsa/ |access-date=2023-12-11 |website=Heineken N.V. purchases €333 million in shares from FEMSA |language=en}}</ref>


== Divisions ==
== Divisions ==
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===FEMSA Comercio===
====Proximity division====
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FEMSA Comercio operates [[OXXO]], the leading convenience store chain in Mexico and a growing portfolio of other small-format retail chains in Latin America.<ref name=MexicoNewsDaily>{{cite web|url=https://mexiconewsdaily.com/news/oxxo-stores-everywhere-continue-multiply/|title=Oxxo stores are everywhere and they continue to multiply|date=30 June 2014 |publisher=Mexico News Daily}}</ref>

OXXO, a subsidiary of FEMSA, was established in 1978.<ref name=MexicoNewsDaily/> In 2010, OXXO, a subsidiary of FEMSA Comercio, partnered with Heineken Mexico. OXXO's ten-year agreement with Heineken Mexico was renegotiated in early 2019.<ref>{{cite press release|url=https://www.globenewswire.com/news-release/2019/02/26/1742990/0/en/OXXO-and-HEINEKEN-Mexico-extend-their-commercial-relationship.html|title=OXXO and HEINEKEN Mexico extend their commercial relationship|date=26 February 2019 |publisher=Intrado}}</ref>

⚫
In 2013 the FEMSA group acquired an 80% holding in the Mexican arm of [[restaurant chain]] Gorditas Doña Tota for US$120 million, their interest being limited to operations within Mexico.<ref>{{cite web|url=http://www.milenio.com/negocios/Femsa-adquiere-Dona-Tota_0_158984501.html|title=Femsa, adquiere el 80% de "Doña Tota"|last=Redacción}}</ref> Operations within the United States remain in the hands of the original business owners.<ref>{{cite web|url=https://www.sdpnoticias.com/economia/2012/10/29/femsa-adquiere-por-120-mdd-a-gorditas-dona-tota|title=FEMSA adquiere por 120 mdd a Gorditas Doña Tota|access-date=2017-12-13|archive-date=2017-12-01|archive-url=https://web.archive.org/web/20171201042749/https://www.sdpnoticias.com/economia/2012/10/29/femsa-adquiere-por-120-mdd-a-gorditas-dona-tota|url-status=dead}}</ref> The company operates as a subsidiary of Femsa Comercio S.A. de C.V.<ref>{{cite web|title=Company Overview of Gorditas Dona Tota S.A. de C.V.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=247182537|website=bloomberg.com|publisher=Bloomberg|access-date=4 December 2017}}</ref> As of 2017 the company claims more than 200 restaurants in 60 Mexican cities and towns.<ref name=vanguardia>{{cite magazine|title=Este mapa te muestra el origen de las 32 marcas más populares de México|date=12 September 2017|quote=La receta de [[gorditas]] de esta mujer se puede encontrar ahora en más de 60 ciudades y 200 restaurantes. [This woman's recipe for gorditas can now be found in more than 60 cities and 200 restaurants.]|magazine=Vangardia.mx|access-date=1 December 2017|url=http://www.vanguardia.com.mx/articulo/este-mapa-te-muestra-el-origen-de-las-32-marcas-mas-populares-de-mexico|trans-title=This map shows you the origin of the 32 most popular brands in Mexico}}</ref><ref>{{cite web|title=Corporate website|url=http://www.donatota.com/public/index.aspx|website=donatota.com|publisher=Gorditas Dona Tota|access-date=4 December 2017|archive-date=4 December 2017|archive-url=https://web.archive.org/web/20171204072945/http://www.donatota.com/public/index.aspx|url-status=dead}}</ref> Gorditas Doña Tota started in 1952 when Carlota Murillo of [[Ciudad Victoria, Tamaulipas]] began selling [[gordita]]s on the street, from a cart on the sidewalk.<ref name="vanguardia"/>

====Health division====
In November 2012, FEMSA announced it had purchased a 75 percent controlling stake in convenience store Farmacias Yza.<ref>{{cite web|url=https://www.eleconomista.com.mx/empresas/Femsa-adquiere-participacion-de-farmacias-YZA-20121109-0020.html|title=Femsa adquiere participación de farmacias YZA|publisher=Economist}}</ref> In May 2013, FEMSA announced the acquisition of another convenience store, Farmacias FM Moderna.<ref>{{cite web|url=https://www.fool.com/investing/general/2013/05/13/femsa-buys-another-drugstore-chain.aspx|title=FEMSA Buys Another Drugstore Chain|author=Rich Smith|date=13 May 2013 }}</ref>

In September 2015, FEMSA Comercio acquired a controlling stake in SOCOFAR.<ref>{{cite web|url=https://www.zacks.com/stock/news/219496/femsa-fmx-buys-big-john-enhances-operations-in-chile|title=FEMSA (FMX) Buys Big John, Enhances Operations in Chile|publisher=Zacks Equity Research}}</ref> In December 2015, FEMSA, through FEMSA Comercio, acquired SOCOFAR, a Chilean drugstore company operating the Cruz Verde drugstore network in Chile and Colombia. SOCOFAR was founded in the 1980s and is the largest drugstore chain in Chile, a strong presence in Colombia.<ref>{{cite news|url=https://www.reuters.com/article/cruzverde-ma-femsa/mexicos-femsa-to-buy-chile-pharmacy-chain-cruz-verde-for-1-bln-paper-idUSL5N10O3GL20150813|title=Mexico's Femsa to buy Chile pharmacy chain Cruz Verde for $1 bln|date=13 August 2015 |work=Reuters}}</ref>

In September 2018, FEMSA, through FEMSA Comercio, announced the acquisition of Ecuadorian drugstore chains Fybeca and SanaSana.<ref>{{cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/ppaikaolcbeipyminhweqq2|title=Mexico's FEMSA buys Ecuadorian drugstore operator|publisher=S&P Global}}</ref>

In May 2019, FEMSA Comercio completed its acquisition of Fybeca.<ref>{{cite web|url=https://lexlatin.com/noticias/femsa-cierra-compra-de-fybeca-en-ecuador|title=FEMSA closes purchase of Fybeca in Ecuador|publisher=LexLatin}}</ref> FEMSA Comercio announced in December 2019 plans to acquire the remaining 40 percent minority stake of SOCOFAR.<ref>{{cite web|url=https://finance.yahoo.com/news/femsas-fmx-unit-acquires-agv-151603222.html|title=FEMSA's (FMX) Unit Acquires AGV, Expands Footprint in Brazil|publisher=Yahoo! Finance}}</ref> FEMSA acquired the remaining stake in SOCOFAR in January 2020.<ref>{{cite web|url=https://finance.yahoo.com/news/femsa-buys-40-socofar-stake-133801975.html|title=FEMSA Buys a 40% Socofar Stake, Boosts Drugstore Operations|publisher=Yahoo! Finance}}</ref>

====Fuel division====
OXXO Gas is an affiliate of OXXO, and as of 2020 operates approximately 550 stations in 17 Mexican states.<ref>{{cite web|url=https://www.forbes.com/sites/doliaestevez/2017/07/10/mexicos-femsa-announces-major-expansion-of-oxxo-branded-gas-stations/?sh=4f89a32414fd|title=Mexico's Femsa Announces Major Expansion Of OXXO-Branded Gas Stations|work=Forbes}}</ref>

===Coca-Cola FEMSA===
===Coca-Cola FEMSA===
{{Main|Coca-Cola FEMSA}}
FEMSA owns 47.9% of the world's largest bottler of [[Coca-Cola]] by volume, Coca-Cola FEMSA, S.A. de C.V. ({{NYSE|KOF}}), which operates in ten countries covering the metropolitan area of Mexico City, southeast Mexico, Central America and South America.
FEMSA owns 47.9% of the world's largest bottler of [[Coca-Cola]] by volume, Coca-Cola FEMSA, S.A. de C.V. ({{NYSE|KOF}}), which operates in ten countries covering the metropolitan area of Mexico City, southeast Mexico, Central America, and South America.


Coca-Cola FEMSA is the [[anchor bottler]] of [[Coca-Cola]] and its related [[soft drink]] products in much of [[Latin America]]. The company is an important part of the [[The Coca-Cola Company#Bottlers|Coca-Cola System]]. Coca-Cola FEMSA distributes about 10% of the worldwide production of Coca-Cola products. This makes it the second largest Coca-Cola bottler in the world, after [[Coca-Cola Enterprises]].
Coca-Cola FEMSA is the [[anchor bottler]] of [[Coca-Cola]] and its related [[soft drink]] products in much of [[Latin America]]. The company is an important part of the [[The Coca-Cola Company#Bottlers|Coca-Cola System]]. During 2019, the company produced and sold 11.1% of Coca-Cola's volume worldwide. This makes it the largest Coca-Cola bottler in the world.<ref name=SeekingAlpha>{{cite web |title=Coca-Cola FEMSA: The World's Largest Coca-Cola Bottler At A Discount To Fair Value |url=http://ir.femsa.com/corp_structure.cfm |publisher=Seeking Alpha |access-date=2021-06-28}}</ref>


The company is owned 47.9% by FEMSA, 28.1% by [[The Coca-Cola Company]] and the remaining interest trades on the [[New York Stock Exchange]] and the [[Mexico City Stock Exchange]].<ref name=FEMSACorp>{{cite web |title=FEMSA - Corporate Structure |url=http://ir.femsa.com/corp_structure.cfm |access-date=2016-03-30}}</ref> The company is headquartered in [[Monterrey]].
The company is owned 47.9% by FEMSA, 28.1% by [[The Coca-Cola Company]] and the remaining interest trades on the [[New York Stock Exchange]] and the [[Mexico City Stock Exchange]].<ref name=FEMSACorp>{{cite web |title=FEMSA - Corporate Structure |url=http://ir.femsa.com/corp_structure.cfm |access-date=2016-03-30}}</ref> The company is headquartered in [[Monterrey]].
Line 68: Line 98:
| title=Mexico's Coca-Cola FEMSA open to more deals
| title=Mexico's Coca-Cola FEMSA open to more deals
| author= Elinor Comlay
| author= Elinor Comlay
| url= https://www.reuters.com/article/2011/06/29/cocacolafemsa-idUSN1E75S19420110629
| url= https://www.reuters.com/article/cocacolafemsa-idUSN1E75S19420110629
| newspaper=Reuters.com
| newspaper=Reuters.com
| date= 29 June 2011
| date= 29 June 2011
| access-date=30 June 2011}}
| access-date=30 June 2011}}
</ref> In September 2011, Coca-Cola FEMSA acquired Grupo Cimsa, a Coke bottler in Morelos, Mexico, Guerrero and Michoacan.<ref name="grupocimsa" />
</ref> In September 2011, Coca-Cola FEMSA acquired Grupo Cimsa, a Coke bottler in Morelos, Mexico, Guerrero and Michoacan.<ref name="grupocimsa" />

⚫
===FEMSA Comercio===
⚫
FEMSA Comercio operates [[OXXO]], the leading convenience store chain in Mexico and a growing portfolio of other small-format retail chains in Latin America, as well as a network of retail service stations for fuel, lubricants and car care products in Mexico.<ref>{{cite web|url=https://mexiconewsdaily.com/news/oxxo-stores-everywhere-continue-multiply/|title=Oxxo stores are everywhere and they continue to multiply|publisher=Mexico News Daily|access-date=12 January 2021}}</ref>

⚫
In 2013 the FEMSA group acquired an 80% holding in the Mexican arm of [[restaurant chain]] Gorditas Doña Tota for US$120 million, their interest being limited to operations within Mexico.<ref>{{cite web|url=http://www.milenio.com/negocios/Femsa-adquiere-Dona-Tota_0_158984501.html|title=Femsa, adquiere el 80% de "Doña Tota"|last=Redacción}}</ref> Operations within the United States remain in the hands of the original business owners.<ref>{{cite web|url=https://www.sdpnoticias.com/economia/2012/10/29/femsa-adquiere-por-120-mdd-a-gorditas-dona-tota|title=FEMSA adquiere por 120 mdd a Gorditas Doña Tota}}</ref> The company operates as a subsidiary of Femsa Comercio S.A. de C.V.<ref>{{cite web|title=Company Overview of Gorditas Dona Tota S.A. de C.V.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=247182537|website=bloomberg.com|publisher=Bloomberg|access-date=4 December 2017}}</ref> As of 2017 the company claims more than 200 restaurants in 60 Mexican cities and towns.<ref name=vanguardia>{{cite magazine|title=Este mapa te muestra el origen de las 32 marcas más populares de México|date=12 September 2017|quote=La receta de [[gorditas]] de esta mujer se puede encontrar ahora en más de 60 ciudades y 200 restaurantes. [This woman's recipe for gorditas can now be found in more than 60 cities and 200 restaurants.]|work=Vangardia.mx|access-date=1 December 2017|url=http://www.vanguardia.com.mx/articulo/este-mapa-te-muestra-el-origen-de-las-32-marcas-mas-populares-de-mexico|trans-title=This map shows you the origin of the 32 most popular brands in Mexico}}</ref><ref>{{cite web|title=Corporate website|url=http://www.donatota.com/public/index.aspx|website=donatota.com|publisher=Gorditas Dona Tota|access-date=4 December 2017}}</ref> Gorditas Doña Tota started in 1952 when Carlota Murillo of [[Ciudad Victoria, Tamaulipas]] began selling [[gordita]]s on the street, from a cart on the sidewalk.<ref name="vanguardia"/>


===FEMSA Negocios Estratégicos===
===FEMSA Negocios Estratégicos===
FEMSA Negocios Estratégicos (formerly known as FEMSA Insumos Estratégicos) provides logistics, point-of-sale refrigeration solutions and plastics solutions{{clarify|date=May 2018}} to FEMSA's business units and third-party clients. It is subsequently divided into:
FEMSA Negocios Estratégicos (formerly known as FEMSA Insumos Estratégicos) provides logistics, point-of-sale refrigeration solutions{{buzzword inline|date=December 2021}} and plastics solutions{{clarify|date=May 2018}} to FEMSA's business units and third-party clients. It is subsequently divided into:


====Solistica====
====Solistica====
Solistica is a third-party logistics provider for a number of industries, including pharmaceuticals, automotive, technology, and consumer goods. Solistica manages primary distribution for Coca-Cola FEMSA and Heineken and secondary distribution for FEMSA Comercio’s Proximity Division.<ref name>{{cite news |url=https://annualreport.femsa.com/StrategicBussines.html |title=2020 Annual Report |work=FEMSA Annual Report}}</ref>
Solistica is a third-party logistics provider for a number of industries, including pharmaceuticals, automotive, technology, and consumer goods. Solistica manages primary distribution for Coca-Cola FEMSA and Heineken and secondary distribution for FEMSA Comercio's Proximity Division.<ref name=annualreport>{{cite news |url=https://annualreport.femsa.com/StrategicBussines.html |title=2020 Annual Report |work=FEMSA Annual Report}}</ref>


====Imbera====
====Imbera====
Imbera, formerly known as Vendo de México, S.A. de C.V. (VENDO), is the #1 global commercial refrigeration manufacturer in the world. With facilities in Mexico, Colombia, and Brazil, Imbera exports to 45 different countries and maintains alliances in Argentina, Turkey, Pakistan, and the Philippines. In addition, Imbera has sales offices in 8 countries and provides equipment maintenance in 9, including the US and Canada.<ref>{{cite web |title=Imbera Cooling |url=http://imberafoodservice.com/|access-date=2016-03-30}}</ref>
Imbera manufactures equipment for the soft drink, beer and food service industries, including coolers, food processing, storage and weighing equipment.<ref name="annualreport" /> Imbera has manufacturing plants in Mexico, Colombia, and Brazil.<ref>{{cite web |title=Imbera Cooling |url=http://imberafoodservice.com/|access-date=2016-03-30}}</ref>


====Plásticos Técnicos Mexicanos (PTM)====
====Plásticos Técnicos Mexicanos (PTM)====
PTM provides solutions and develops "plastic transformation projects" tailored to FEMSA Enterprises and third-party clients in terms of materials handling, automobiles, and food/beverages. Their capacity includes the different plastic manufacturing processes: blowing, injecting, heat forming, and extrusion.<ref>{{cite web |title=PTM |url=http://www.femsa.com/en/femsa-businesses/companies/ptm|access-date=2016-03-30}}</ref>
PTM provides solutions{{buzzword inline|date=December 2021}} and develops "plastic transformation projects" tailored to FEMSA Enterprises and third-party clients in terms of materials handling, automobiles, and food/beverages. Their capacity includes the different plastic manufacturing processes: blowing, injecting, heat forming, and extrusion.<ref>{{cite web |title=PTM |url=http://www.femsa.com/en/femsa-businesses/companies/ptm|access-date=2016-03-30}}</ref>


==See also==
==See also==
Line 107: Line 132:
{{S&P Latin America 40}}
{{S&P Latin America 40}}


{{Authority control}}
{{Authority control|state=expanded}}


{{DEFAULTSORT:Femsa}}
{{DEFAULTSORT:Femsa}}
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[[Category:Companies based in Monterrey]]
[[Category:Companies based in Monterrey]]
[[Category:Companies listed on the Mexican Stock Exchange]]
[[Category:Companies listed on the Mexican Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies in the Indice de Precios y Cotizaciones]]
[[Category:Companies in the S&P Latin America 40]]
[[Category:Food and drink companies established in 1890]]
[[Category:Food and drink companies established in 1890]]
[[Category:Drink companies of Mexico]]
[[Category:Drink companies of Mexico]]

Latest revision as of 13:53, 19 October 2024

Fomento Económico Mexicano, S.A.B. de C.V.
Company typeSociedad Anónima Bursátil de Capital Variable
BMV: FEMSA
NYSE: FMX (ADR)
IndustryBeverage, Retail
Founded1974; 50 years ago (1974)
Headquarters
Monterrey, Nuevo León
,
Mexico
Area served
Latin America and the United States
Key people
José Antonio Fernández
(Chairman)
Eduardo Padilla Silva
(CEO)
John Anthony Santa María Otazúa
(CEO of Coca-Cola FEMSA)[1]
Carlos Arenas
(CEO of OXXO)
RevenueIncrease MXN$506.7 billion (2019)
Increase MXN$28.0 billion (2019)
Total assetsIncrease MXN$637.5 billion (2019)
Number of employees
+230,000
DivisionsCoca-Cola FEMSA
FEMSA Comercio
FEMSA Negocios Estrategicos
Heineken (8%)[2]

Fomento Económico Mexicano, S.A.B. de C.V., doing business as FEMSA, is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico. It operates the largest independent Coca-Cola bottling group in the world and the largest convenience store chain in Mexico. It is also a shareholder of Heineken N.V.

FEMSA reported revenues of US$26.9 billion for 2019, making it the fifth largest company of Mexico.[3] It has operations in Latin America mainly through bottling plants, convenience stores, drugstores, fuel stations, and third-party logistic services, and in the United States, where it participates in the jan-san distribution industry. It is well known in Mexico for its convenience store chain Oxxo, it previously owned Cuauhtémoc Moctezuma Brewery (exchanged in 2010 for a 20% stake in Heineken N.V.), and for being the owner of C.F. Monterrey, a Liga MX football team.

FEMSA has been listed on the Mexican Stock Exchange since 1978 and on the NYSE through ADRs since 1998. It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange, and of the S&P Latin America 40, which includes leading, blue chip companies from Latin America.

History

[edit]

FEMSA originated from the Cervecería Cuauhtemoc brewery, which was established by Isaac Garza Garza in 1890.[4] In 1909, Garza founded Vidriera Monterrey (now Vitro) to produce bottles for the Cuauhtémoc brewery.

The vertical strategic integration of Cervecería Cuauhtemoc began in 1936, with the establishment of Fábricas Monterrey, S.A. de C.V. for the production of bottle caps. Packaging operations expanded in 1957 with the production of labels and flexible packaging. During this period, FEMSA's operations were part of what became known as Grupo Monterrey (lit. the Monterrey Group), which also included interests in banking, steel, and other packaging operations.

In 1974, Grupo Monterrey was divided into two branches by the descendants of the founding families of Cervecería Cuauhtémoc. The steel and packaging operations gave rise to the creation of Corporación Siderúrgica S.A. (later consolidated into Grupo ALFA), which would be controlled by the Garza Sada family, and the beverage and banking operations led to the creation of FEMSA, whose control fell to the Garza Lagüera family. FEMSA was listed on the Mexican Stock Exchange on September 19, 1978.

In 1985, Cuauhtémoc merged with Moctezuma to form Cervecería Cuauhtémoc Moctezuma.[4] FEMSA then undertook an extensive corporate and financial restructuring that was completed in December 1988.[5]

In 1993, Coca-Cola purchased a 30 percent stake in FEMSA, creating the Coca-Cola FEMSA division.[6]

In January 2006, FEMSA Cerveza acquired Kaiser Cervejarias from Molson Coors Brewing Co.[7]

On December 19, 2006, Coca-Cola FEMSA announced its attempt to buy out Mexican juice producer Jugos del Valle. It was acquired in 2007.

On December 20, 2007, Cascade Investments LLC, whose main partner is Bill Gates, announced it would invest $390 million in FEMSA. The Reuters news agency stated that after this investment, "Gates owns a 1.2 percent stake in Femsa's Series B shares, a 5 percent stake in Series D-B shares, and a 5 percent stake in Series D-L shares." This investment caused the Bill and Melinda Gates' foundation to become the institutional holder possessing the most shares of FEMSA.[8]

On January 11, 2010, the Dutch brewing company Heineken International purchased FEMSA Cerveza (Cervecería Cuauhtémoc Moctezuma), the beer operations of FEMSA, in a stock swap that left FEMSA a 20% owner in the Heineken.[9]

In 2011, Coca-Cola FEMSA acquired regional Mexican Coke bottler Grupo Cimsa for 11 billion MXN (US$838 million).[10]

In July 2012, Coca-Cola FEMSA announced that it had purchased Lácteos Santa Clara, one of the largest dairy bottlers in Mexico.[11]

In August 2015, FEMSA, through its subsidiary FEMSA Comercio entered the drugstore business in South America by acquiring a majority interest in Socofar, a leading South American drugstore operator based in Santiago, Chile.[12]

In March 2017, FEMSA's Imbera division announced their shift to hydrocarbons in manufacturing their Coke beverage coolers.[13] The company enacted the manufacturing shift in order to meet higher efficiency standards. In October 2017, FEMSA Logistica rebranded to Solistica.[14]

In early 2019, FEMSA, through its subsidiary FEMSA Comercio, acquired Ecuadorean company Corporacion GPF.[15] In September 2019, FEMSA signed a deal to acquire a minority stake in Jetro Restaurant Depot.[16] In November 2019, FEMSA Logistics subsidiary Solistica completed their acquisition of Brazilian company AGV.[17] Also in November 2019, FEMSA Comercio closed the acquisition of a 50 percent stake in Raizen Conveniencias.[18]

In March 2020, FEMSA acquired a majority stake in WAXIE Sanitary Supply and North American Corporation, to form a new platform within the Jan-San, Packaging and Specialized distribution industry in the United States.[19]

In 2022, FEMSA acquired Swiss retail and food service holding company Valora, which operates multiple brands of convenience stores and quick service food outlets in Switzerland, Germany, Austria, Luxembourg, and the Netherlands.[20][21]

In May 2023, FEMSA sold €333 million in Heineken N.V. to the company. FEMSA will no longer hold any shares in Heineken N.V. and Heineken Holding N.V. other than the Heineken Holding N.V. shares underlying the exchangeable bond.[22]

Divisions

[edit]

FEMSA Comercio

[edit]

Proximity division

[edit]

FEMSA Comercio operates OXXO, the leading convenience store chain in Mexico and a growing portfolio of other small-format retail chains in Latin America.[23]

OXXO, a subsidiary of FEMSA, was established in 1978.[23] In 2010, OXXO, a subsidiary of FEMSA Comercio, partnered with Heineken Mexico. OXXO's ten-year agreement with Heineken Mexico was renegotiated in early 2019.[24]

In 2013 the FEMSA group acquired an 80% holding in the Mexican arm of restaurant chain Gorditas Doña Tota for US$120 million, their interest being limited to operations within Mexico.[25] Operations within the United States remain in the hands of the original business owners.[26] The company operates as a subsidiary of Femsa Comercio S.A. de C.V.[27] As of 2017 the company claims more than 200 restaurants in 60 Mexican cities and towns.[28][29] Gorditas Doña Tota started in 1952 when Carlota Murillo of Ciudad Victoria, Tamaulipas began selling gorditas on the street, from a cart on the sidewalk.[28]

Health division

[edit]

In November 2012, FEMSA announced it had purchased a 75 percent controlling stake in convenience store Farmacias Yza.[30] In May 2013, FEMSA announced the acquisition of another convenience store, Farmacias FM Moderna.[31]

In September 2015, FEMSA Comercio acquired a controlling stake in SOCOFAR.[32] In December 2015, FEMSA, through FEMSA Comercio, acquired SOCOFAR, a Chilean drugstore company operating the Cruz Verde drugstore network in Chile and Colombia. SOCOFAR was founded in the 1980s and is the largest drugstore chain in Chile, a strong presence in Colombia.[33]

In September 2018, FEMSA, through FEMSA Comercio, announced the acquisition of Ecuadorian drugstore chains Fybeca and SanaSana.[34]

In May 2019, FEMSA Comercio completed its acquisition of Fybeca.[35] FEMSA Comercio announced in December 2019 plans to acquire the remaining 40 percent minority stake of SOCOFAR.[36] FEMSA acquired the remaining stake in SOCOFAR in January 2020.[37]

Fuel division

[edit]

OXXO Gas is an affiliate of OXXO, and as of 2020 operates approximately 550 stations in 17 Mexican states.[38]

Coca-Cola FEMSA

[edit]
Main article: Coca-Cola FEMSA

FEMSA owns 47.9% of the world's largest bottler of Coca-Cola by volume, Coca-Cola FEMSA, S.A. de C.V. (NYSE: KOF), which operates in ten countries covering the metropolitan area of Mexico City, southeast Mexico, Central America, and South America.

Coca-Cola FEMSA is the anchor bottler of Coca-Cola and its related soft drink products in much of Latin America. The company is an important part of the Coca-Cola System. During 2019, the company produced and sold 11.1% of Coca-Cola's volume worldwide. This makes it the largest Coca-Cola bottler in the world.[39]

The company is owned 47.9% by FEMSA, 28.1% by The Coca-Cola Company and the remaining interest trades on the New York Stock Exchange and the Mexico City Stock Exchange.[40] The company is headquartered in Monterrey.

The company is the bottler of Coca-Cola in half of Mexico (including Mexico City, Oaxaca, Tabasco, Guanajuato, Querétaro, Veracruz, Puebla and Michoacan) the Buenos Aires region of Argentina, São Paulo and other areas of Brazil, greater Guatemala City, Guatemala, most of Colombia, and all of Costa Rica, Nicaragua, Panama, Venezuela and the Philippines (until 2018).

The company also distributes beer and bottled water in some of its territories.

On 29 June 2011, was announced that FEMSA will merge to the bottling division of Grupo Tampico, agreeing to pay 9.3 billion pesos (790 million dollars) in stock for the Coke bottling operations of Grupo Tampico.[41] In September 2011, Coca-Cola FEMSA acquired Grupo Cimsa, a Coke bottler in Morelos, Mexico, Guerrero and Michoacan.[10]

FEMSA Negocios Estratégicos

[edit]

FEMSA Negocios Estratégicos (formerly known as FEMSA Insumos Estratégicos) provides logistics, point-of-sale refrigeration solutions[buzzword] and plastics solutions[clarification needed] to FEMSA's business units and third-party clients. It is subsequently divided into:

Solistica

[edit]

Solistica is a third-party logistics provider for a number of industries, including pharmaceuticals, automotive, technology, and consumer goods. Solistica manages primary distribution for Coca-Cola FEMSA and Heineken and secondary distribution for FEMSA Comercio's Proximity Division.[42]

Imbera

[edit]

Imbera manufactures equipment for the soft drink, beer and food service industries, including coolers, food processing, storage and weighing equipment.[42] Imbera has manufacturing plants in Mexico, Colombia, and Brazil.[43]

Plásticos Técnicos Mexicanos (PTM)

[edit]

PTM provides solutions[buzzword] and develops "plastic transformation projects" tailored to FEMSA Enterprises and third-party clients in terms of materials handling, automobiles, and food/beverages. Their capacity includes the different plastic manufacturing processes: blowing, injecting, heat forming, and extrusion.[44]

See also

[edit]

References

[edit]
  1. ^ "John Anthony Santa María Otazua Chief Executive Officer". Bloomberg.
  2. ^ Mexico's FEMSA focuses back on retail, bottling with Heineken stake sale (Reuters, February 17, 2023)
  3. ^ "Top 10 del Ranking 2014". CNN Expansión. Archived from the original on 2014-06-27. Retrieved 2014-06-26.
  4. ^ a b "The History of Cinco de Mayo and Mexican Beer". Home Brew Academy. May 2020. Retrieved 21 January 2021.
  5. ^ John T. Hyatt (27 April 2016). Mexican Business Culture: Essays on Tradition, Ethics, Entrepreneurship and Commerce and the State. McFarland. ISBN 9781476623139. Retrieved 21 January 2021.
  6. ^ Tim Golden (27 April 1993). "Coke Plans to Buy 30% Stake In Mexican Soft Drink Unit". The New York Times. Retrieved 21 January 2021.
  7. ^ Molson Coors Archived 2007-10-11 at the Wayback Machine Press release
  8. ^ "Bill Gates buys stake in Mexican brewer Femsa". Reuters. 2007-12-21. Retrieved 2019-09-30.
  9. ^ "Heineken agrees Mexican beer deal". BBC News. January 11, 2010. Retrieved May 2, 2010.
  10. ^ a b Guthrie, Amy. "Mexico's Coca-Cola Femsa to buy bottler Cimsa". MarketWatch. Retrieved 2015-04-12.
  11. ^ "Vía Jugos del Valle, FEMSA toma control del productor de lácteos Santa Clara 2012/07/04 | Excélsior" (in Spanish). Excelsior.com.mx. 19 January 2013. Retrieved 2017-12-13.
  12. ^ "FEMSA Comercio To Buy Majority Stake In Chile's Grupo Socofar For $998 Mln". RTT News. 14 August 2015.
  13. ^ Garry, Michael (20 March 2017). "Imbera migrates Coke coolers to HCs". Hydrocarbons 21. Archived from the original on 15 October 2017. Retrieved 9 April 2021.
  14. ^ Silva Mendez, Miguel Ángel (20 October 2017). "Es Solistica, nuevo nombre de FEMSA Logística". Automores-Rev.
  15. ^ "Mexico's Femsa to enter Ecuadorean drug store business". Reuters. 24 September 2018.
  16. ^ "FEMSA completes investment in US cash and carry leader Jetro Restaurant Depot". Intrado. 8 November 2019.
  17. ^ "FEMSA's (FMX) Unit Acquires AGV, Expands Footprint in Brazil". Yahoo! Finance. 30 December 2019.
  18. ^ "FEMSA Comercio announces the Closing of joint venture agreement with Raízen". Intrado. 1 November 2019.
  19. ^ "FEMSA Acquires North American and WAXIE". Cleary Gottlieb. 10 March 2020.
  20. ^ "FEMSA completes acquisition of Valora". FEMSA. 10 Oct 2022. Retrieved 9 Oct 2024.
  21. ^ Pekel, Charlotte (8 Oct 2024). "Diese Unternehmer stecken hinter Yorma's, Ditsch und Le Crobag". manager magazin (in German). Retrieved 9 Oct 2024. Im selben Jahr fiel das Unternehmen in mexikanische Hände: Femsa, der mexikanische Getränkeabfüller und Einzelhandelsriese, übernahm Valora und damit auch das erfolgreiche SB-Konzept. [In the same year, the company fell into Mexican hands: FEMSA, the Mexican beverage bottler and retail giant, took over Valora and with it the successful self-service concept.]
  22. ^ "Heineken N.V. purchases €333 million in shares from FEMSA". Heineken N.V. purchases €333 million in shares from FEMSA. Retrieved 2023-12-11.
  23. ^ a b "Oxxo stores are everywhere and they continue to multiply". Mexico News Daily. 30 June 2014.
  24. ^ "OXXO and HEINEKEN Mexico extend their commercial relationship" (Press release). Intrado. 26 February 2019.
  25. ^ Redacción. "Femsa, adquiere el 80% de "Doña Tota"".
  26. ^ "FEMSA adquiere por 120 mdd a Gorditas Doña Tota". Archived from the original on 2017-12-01. Retrieved 2017-12-13.
  27. ^ "Company Overview of Gorditas Dona Tota S.A. de C.V." bloomberg.com. Bloomberg. Retrieved 4 December 2017.
  28. ^ a b "Este mapa te muestra el origen de las 32 marcas más populares de México" [This map shows you the origin of the 32 most popular brands in Mexico]. Vangardia.mx. 12 September 2017. Retrieved 1 December 2017. La receta de gorditas de esta mujer se puede encontrar ahora en más de 60 ciudades y 200 restaurantes. [This woman's recipe for gorditas can now be found in more than 60 cities and 200 restaurants.]
  29. ^ "Corporate website". donatota.com. Gorditas Dona Tota. Archived from the original on 4 December 2017. Retrieved 4 December 2017.
  30. ^ "Femsa adquiere participación de farmacias YZA". Economist.
  31. ^ Rich Smith (13 May 2013). "FEMSA Buys Another Drugstore Chain".
  32. ^ "FEMSA (FMX) Buys Big John, Enhances Operations in Chile". Zacks Equity Research.
  33. ^ "Mexico's Femsa to buy Chile pharmacy chain Cruz Verde for $1 bln". Reuters. 13 August 2015.
  34. ^ "Mexico's FEMSA buys Ecuadorian drugstore operator". S&P Global.
  35. ^ "FEMSA closes purchase of Fybeca in Ecuador". LexLatin.
  36. ^ "FEMSA's (FMX) Unit Acquires AGV, Expands Footprint in Brazil". Yahoo! Finance.
  37. ^ "FEMSA Buys a 40% Socofar Stake, Boosts Drugstore Operations". Yahoo! Finance.
  38. ^ "Mexico's Femsa Announces Major Expansion Of OXXO-Branded Gas Stations". Forbes.
  39. ^ "Coca-Cola FEMSA: The World's Largest Coca-Cola Bottler At A Discount To Fair Value". Seeking Alpha. Retrieved 2021-06-28.
  40. ^ "FEMSA - Corporate Structure". Retrieved 2016-03-30.
  41. ^ Elinor Comlay (29 June 2011). "Mexico's Coca-Cola FEMSA open to more deals". Reuters.com. Retrieved 30 June 2011.
  42. ^ a b "2020 Annual Report". FEMSA Annual Report.
  43. ^ "Imbera Cooling". Retrieved 2016-03-30.
  44. ^ "PTM". Retrieved 2016-03-30.
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