MONTERREY, Mexico, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today that its subsidiary, FEMSA Comercio, S.A. de C.V. (“FEMSA Comercio”) has successfully closed its acquisition of 50% of Raízen Conveniências, after receiving the necessary regulatory approvals in Brazil. The signing of this transaction was previously announced on August 6, 2019. This joint venture with Raízen marks the entrance of FEMSA Comercio into the small-box retail sector in Brazil.
As previously informed, the joint venture with Raízen is limited to the convenience and proximity store business and excludes any other Raízen operations.
About FEMSA Comercio
FEMSA Comercio is a company that creates economic and social value in the countries where it has presence. It operates different small-format store chains in Mexico, Colombia, Chile, Peru and Ecuador, among which there are OXXO proximity stores, drugstores under the brands YZA, Farmacon, Moderna, Cruz Verde, Fybeca and SanaSana, and Maicao beauty stores. It also operates service stations in Mexico under the OXXO GAS brand. Through its business units, FEMSA Comercio has more than 180,000 employees and serves more than 13 million consumers every day.
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through FEMSA Comercio, comprising a Proximity Division operating OXXO, a small-format store chain, a Health Division, which includes drugstores and related activities, and a Fuel Division, which operates the OXXO GAS chain of retail service stations. In the beverage industry, it participates through Coca-Cola FEMSA, a public bottler of Coca-Cola products; and in the beer industry, as a shareholder of Heineken, a brewer with operations in over 70 countries. Additionally, through its Strategic Businesses unit, it provides logistics, point-of-sale refrigeration solutions and plastics solutions to FEMSA's business units and third-party clients. Through its business units, FEMSA has approximately 300,000 employees in 13 countries. FEMSA is a member of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index and the Mexican Stock Exchange Sustainability Index, among other indexes that evaluate its sustainability performance.