FEMSA successfully finalizes the acquisition of OK Market stores in Chile

Rhea-AI Summary

FEMSA (NYSE: FMX) has successfully completed the acquisition of OK Market, a small-format store chain in Chile, after receiving regulatory approvals. This deal adds 134 new locations to FEMSA's existing proximity business, bringing the total to 258 stores in the region. The acquisition enhances FEMSA's scale as a proximity store operator in Chile, enabling better service for its consumers.

Positive

• Acquisition of OK Market expands FEMSA's presence in Chile with 134 new locations.
• Total proximity locations in Chile increased to 258, enhancing market scale.

Negative

• None.

MONTERREY, Mexico, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced that it has successfully closed the acquisition of OK Market, a small-format proximity store chain in Chile, after receiving the necessary regulatory approvals. The transaction will add 134 locations to FEMSA’s proximity business existing footprint in this important market, to reach a total of 258 locations.

With this transaction, FEMSA increases its commitment as a proximity store operator in Chile, improving its scale and ability to better serve its Chilean consumers.

About FEMSA
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 a Proximity Division operating OXXO, a small-format store chain, a Health Division, which includes drugstores and related activities, and OXXO Gas, a chain of retail service stations. FEMSA’s Digital Division includes Spin by OXXO and OXXO Premia, among other loyalty and digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume; and in the beer industry, as the second largest shareholder of Heineken, one of the world’s leading brewers with operations in over 70 countries. FEMSA also participates in the logistics and distribution industry through its Strategic Business Unit, which additionally provides point-of-sale refrigeration and plastic solutions to its business units and third-party clients. Across its business units, FEMSA has more than 320,000 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.

Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx www.femsa.com

Investor Contact (52) 818-328-6167 investor@femsa.com.mx www.femsa.com/inversionista

FAQ

What is the significance of FEMSA's acquisition of OK Market?

The acquisition enhances FEMSA's market presence, bringing total proximity stores in Chile to 258, allowing better service to consumers.

How many locations does FEMSA now operate in Chile after acquiring OK Market?

After the acquisition, FEMSA operates a total of 258 locations in Chile.

When did FEMSA close the acquisition of OK Market?

FEMSA announced the successful closing of the acquisition of OK Market on February 28, 2022.

What type of stores does FEMSA operate?

FEMSA operates small-format proximity stores through its OXXO chain, along with other business divisions in health and beverages.