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Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. It also operates small-box retail chain stores in Mexico, Colombia, Peru, Chile, and Brazil under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, SanaSana, YZA, La Moderna, and Farmacon names. In addition, the company is involved in the production and distribution of chillers, commercial refrigeration equipment, plastic boxes, food processing, and preservation and weighing equipment; and provision of logistic transportation, distribution and maintenance, point-of-sale refrigeration, and plastics solutions, as well as distribution platform for cleaning products and consumables. As of December 31, 2021, it operated 20,431 OXXO stores; 3,652 drugstores; and 567 OXXO GAS service stations. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is based in Monterrey, Mexico.
Cuauhtémoc brewery was established in 1890.In 1985, Cuauhtémoc merged with Moctezuma to form Cervecería Cuauhtémoc Moctezuma. FEMSA was established from Grupo Visa in 1988.In 1993, Coca-Cola purchased a 30 percent stake in FEMSA, creating the Coca-Cola FEMSA division.In January 2006, FEMSA Cerveza acquired Kaiser Cervejarias from Molson Coors Brewing Co.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.On January 11, 2010, the Dutch brewing company Heineken International purchased FEMSA Cerveza , the beer operations of FEMSA, in a stock swap that left FEMSA a 20% owner in the Heineken.In 2011, Coca-Cola FEMSA acquired regional Mexican Coke bottler Grupo Cimsa for 11 billion MXN .In July 2012, Coca-Cola FEMSA announced that it had purchased Lácteos Santa Clara, one of the largest dairy bottlers in Mexico.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.In March 2017, FEMSA's Imbera division announced their shift to hydrocarbons in manufacturing their Coke beverage coolers. The company enacted the manufacturing shift in order to meet higher efficiency standards. In October 2017, FEMSA Logistica rebranded to Solistica.In early 2019, FEMSA, through its subsidiary FEMSA Comercio, acquired Ecuadorean company Corporacion GPF. In September 2019, FEMSA signed a deal to acquired a minority stake in Jetro Restaurant Depot. In November 2019, FEMSA Logistics subsidiary Solistica completed their acquisition of Brazilian company AGV. Also in November 2019, FEMSA Comercio closed the acquisition of a 50 percent stake in Raizen Conveniencias.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.
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