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Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) is a renowned Mexican multinational conglomerate headquartered in Monterrey, Mexico. FEMSA stands out in the beverage and retail sectors across Central and South America, operating the world's largest independent Coca-Cola bottling group and Mexico's largest convenience store chain.
FEMSA is structured into several divisions:
- Retail Division: This includes OXXO, the leading convenience store chain in Mexico with expanding operations under Proximity Americas and Proximity Europe divisions. The European division includes Valora, which operates convenience and foodvenience formats.
- Health Division: FEMSA operates drugstores and related activities through this division, alongside Digital@FEMSA, which encompasses digital financial services such as Spin by OXXO and Spin Premia.
- Beverage Division: Coca-Cola FEMSA, the largest bottler of Coca-Cola products globally by volume, forms a significant part of FEMSA's operations.
- Strategic Business Unit: This division handles logistics, distribution, point-of-sale refrigeration, and plastic solutions, serving both FEMSA's units and third-party clients.
In 2023, FEMSA divested its 15% stake in Heineken and its distribution business, focusing on its core sectors. Coca-Cola FEMSA and the OXXO chain collectively constituted 75% of FEMSA's total revenue and approximately 90% of its profits in 2023.
FEMSA's latest significant financial move includes a comprehensive Tender Offer to purchase outstanding US$552.83 million worth of 4.375% Senior Notes due 2043, with settlement concluded on November 9, 2023. This is part of FEMSA's strategic initiatives announced in February 2023, aimed at optimizing its business platform.
With over 350,000 employees across 18 countries, FEMSA is committed to creating economic and social value. The company is also recognized for its sustainability practices, featuring in indexes such as the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index.
FEMSA continues to focus on growth through strategic investments and partnerships, strengthening its position as a key player in the beverage and retail industries.
Rhea-AI Summary
FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. (FEMSA) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced the successful completion of its Tender Offer to purchase its outstanding US$552,830,000 principal amount of 4.375% Senior Notes due 2043. The Offer expired on November 6, 2023, and settled on November 9, 2023. FEMSA accepted for purchase all Securities tendered and paid approximately US$117 million to holders whose Securities were accepted for purchase.
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FEMSA announced the results of its Tender Offer to purchase its outstanding Senior Notes due 2043. The offer expired on November 6, 2023, with a settlement date expected on November 9, 2023. The aggregate principal amount of the Securities tendered and accepted for purchase is US$126,799,000. Holders whose Securities are accepted will receive US$900.21 per US$1,000 principal amount of the Securities, plus accrued and unpaid interest.
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FEMSA announces the offer consideration for its Tender Offer to purchase its outstanding $552,830,000 principal amount of 4.375% Senior Notes due 2043. Holders of Securities who tender by November 6, 2023, or deliver a Notice of Guaranteed Delivery by November 8, 2023, will be eligible to receive $900.21 per $1,000 principal amount of Securities.
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FEMSA has successfully closed the transaction bringing together BradyIFS and Envoy Solutions. The merger aims to create a customer-focused platform that provides high-value solutions to customers and excellent market reach to supplier partners. FEMSA continues to deliver on its FEMSA Forward strategy.
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FEMSA has commenced a Tender Offer to purchase its outstanding US$552,830,000 principal amount of 4.375% Senior Notes due 2043. The offer will expire on November 6, 2023, and the settlement date is expected to be November 9, 2023. The offer consideration will be calculated based on the fixed spread and the yield of the reference security.
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FEMSA announces 19.3% growth in total consolidated revenues for Q3 2023. FEMSA Retail's Proximity Americas revenues increased by 20.8%. DIGITAL's Spin by OXXO had 6.4 million active users and Spin Premia had 17.7 million active loyalty users. COCA-COLA FEMSA saw 11.6% growth in total volume and 10.1% growth in revenues. CEO comments on positive results and future growth potential.
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FEMSA invites you to participate in its Third Quarter Conference Call on October 27, 2023.
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FEMSA announces changes to its organizational structure and senior leadership team in alignment with the FEMSA Forward strategy. Jose Antonio Fernández Garza-Lagüera will lead the Retail business vertical. Juan Carlos Guillermety joins as CEO of Digital@FEMSA. Ian Craig remains CEO of Coca-Cola FEMSA. Other operations will report to the Corporate Office. Changes effective on November 1st, 2023.
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FEMSA enters definitive agreements with BradyIFS to create a new platform in the US. FEMSA will receive $1.7 billion in cash and retain a 37% ownership stake in the combined entity. Pro-forma revenues expected to reach $5 billion. Transaction allows Envoy Solutions and BradyIFS to combine strengths and expand market reach. FEMSA aims to contribute to governance and value creation but does not expect to provide additional capital. Transaction subject to regulatory approvals and expected to close in coming months.
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FEMSA (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced 18.3% growth in Total Consolidated Revenues and 19.9% increase in Proximity Americas total Revenues. Digital segment reported 5.7 million active users for Spin by OXXO and 15.8 million active loyalty users for Spin Premia. Coca-Cola FEMSA saw a 7.2% increase in total revenues. The financial summary for the second quarter and first six months of 2023 shows positive changes in Total Revenues, Gross Profit, and Income from Operations for FEMSA Consolidated and its business units.
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FAQ
What is the current stock price of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX)?
The current stock price of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX) is $101.96 as of September 6, 2024.
What is the market cap of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX)?
The market cap of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX) is approximately 181.6B.
What is FEMSA?
FEMSA, or Fomento Económico Mexicano, S.A.B. de C.V., is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico.
What businesses does FEMSA operate?
FEMSA operates Coca-Cola FEMSA, the largest independent Coca-Cola bottling group, and OXXO, the largest convenience store chain in Mexico. It also has divisions in health, logistics, and digital financial services.
What recent financial moves has FEMSA made?
FEMSA recently completed a Tender Offer to purchase outstanding US$552.83 million of 4.375% Senior Notes due 2043.
What are FEMSA's core business divisions?
FEMSA's core divisions include its Retail Division (OXXO, Valora), Health Division, Beverage Division (Coca-Cola FEMSA), and Strategic Business Unit.
How many employees does FEMSA have?
FEMSA employs over 350,000 people across 18 countries.
What sustainability indexes is FEMSA part of?
FEMSA is part of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index.
What strategic initiatives did FEMSA announce in 2023?
In 2023, FEMSA announced a series of strategic initiatives aimed at optimizing its business platform, including a comprehensive review of its business units and capital structure.
What percentage of FEMSA's revenue comes from Coca-Cola FEMSA and OXXO?
In 2023, Coca-Cola FEMSA and the OXXO chain made up 75% of FEMSA's total revenue and around 90% of its profits.
Has FEMSA divested any major business segments recently?
Yes, FEMSA divested its 15% stake in Heineken and its distribution business in 2023.
What digital financial services does FEMSA offer?
FEMSA offers digital financial services through Spin by OXXO and Spin Premia.
FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V.
NYSE:FMX
FMX Rankings
FMX Stock Data
181.60B
2.15B
32.47%
0.22%
Beverages - Brewers
Consumer Defensive
United States of America
Monterrey