Overview
Mexican Economic Development, commonly known as FEMSA (Fomento Económico Mexicano), is a Mexico-based company operating across retail, beverages, health and digital services. Its businesses include OXXO convenience stores, OXXO GAS service stations, pharmacies and health-related retail, and Coca-Cola FEMSA’s beverage bottling operations. FEMSA also operates the Spin digital and financial-services ecosystem. Its footprint spans the Americas and Europe.[1][2][3]
FEMSA traces its origins to a brewery founded in Monterrey in 1890. It states its purpose as enhancing people’s lives by transforming the everyday into well-being and growth. In 2025, the company reported consolidated revenue of approximately 841 billion Mexican pesos and 368,776 employees, making it a large multinational consumer-facing group.[4][5][6][7] [8][9][10][1][2][3][4][5][6][7]
Products & services
Mexican Economic Development Inc. (FEMSA) sells beverages through Coca-Cola FEMSA, which produces, markets and distributes Coca-Cola trademark drinks in multiple package sizes and fountain-syrup formats. Coca-Cola and its reduced- or no-sugar variants accounted for 60.3% of Coca-Cola FEMSA’s sales volume in 2025.[11][12]
FEMSA’s OXXO stores sell everyday items such as beverages, snacks and cigarettes, alongside payment and transaction services. These include bill payment, account deposits, cash withdrawals, remittances and store-to-store money transfers. Its European retail and food-service formats sell products ranging from tobacco, newspapers and fresh food to pretzels, bakery snacks and prepared meals.[13][14][15][16][17][18]
Its pharmacy operations sell branded and generic medicines, medical supplies, beauty, wellness and personal-care products. OXXO Gas stations primarily sell gasoline and diesel. FEMSA’s digital offerings include the Spin by OXXO debit card and digital wallet, payment services for merchants, and Spin Premia, a customer loyalty program.[19][20][21][22][23] [11][12][13][14][15][16][17][18][19][20][21][22][23]
Geographic presence
Mexican Economic Development Inc. (FEMSA) is headquartered in Monterrey, Mexico. Its proximity-store operations span Mexico, Brazil, Colombia, Chile, Peru and the United States; its European retail operations are in Switzerland, Germany, Austria, Luxembourg and the Netherlands. Its health operations are in Chile, Colombia, Ecuador and Mexico, while its fuel operations are in Mexico. Coca-Cola FEMSA operates in nine Latin American countries, including Mexico, Brazil, Colombia and Argentina.[24][1][25][26][27]
In 2024, FEMSA reported geographic revenue before consolidation adjustments of Ps. 559,352 million from Mexico and Central America (about 69.7% of the geographic total), Ps. 189,238 million from South America (23.6%), Ps. 49,755 million from Europe (6.2%) and Ps. 3,729 million from the United States (0.5%). Brazilian revenue of Ps. 81,857 million was included within South America. These figures precede Ps. 20,489 million of consolidation adjustments and therefore differ from consolidated revenue of Ps. 781,585 million.[28] [29][24][1][25][26][27][28]
Business segments
FEMSA reports six continuing business-unit revenue categories: **Proximity Americas, Coca-Cola FEMSA, Health, Fuel, Proximity Europe and Other**. Proximity Americas operates small-format stores, principally OXXO, across the Americas; Coca-Cola FEMSA produces and distributes beverages; Health operates pharmacies in Latin America; Fuel operates OXXO Gas stations in Mexico; and Proximity Europe operates small-format retail and food-service businesses. Other includes activities outside those principal businesses, including logistics and digital services. Digital is not reported as a separate revenue category.[30][31]
Based on **2024 revenue from external customers**, Proximity Americas contributed approximately **39%** of consolidated revenue, Coca-Cola FEMSA **34%**, Health **10%**, Fuel **8%**, Proximity Europe **6%** and Other **2%**. These percentages use revenue after intercompany eliminations; they describe the sales mix, not each business unit’s share of profit.[28] [30][31][28]
Company history
FEMSA traces its origins to Cervecería Cuauhtémoc, founded in Monterrey, Mexico, in 1890. Its later expansion beyond brewing included the opening of the first OXXO convenience store in Monterrey in 1978 and entry into Coca-Cola bottling in 1979. Coca-Cola FEMSA became publicly listed in Mexico and the United States in 1993.[32][33][34]
In 2003, Coca-Cola FEMSA acquired Panamco, substantially expanding its Latin American bottling operations. FEMSA shifted away from brewing in 2010, exchanging its beer operations for a 20% economic interest in Heineken. It later expanded its retail presence into Europe by acquiring Valora in 2022, and divested its Heineken investment in 2023.[35][36][37][38] [32][33][34][35][36][37][38]
Sources
- www.femsa.com[1]
- www.femsa.com[2]
- annualreport.femsa.com[3]
- www.femsa.com[4]
- www.femsa.com[5]
- annualreport.femsa.com[6]
- annualreport.femsa.com[7]
- MEXICAN ECONOMIC DEVELOPMENT INC — Full financial report (2025 Y)
- www.sec.gov[24]
- www.femsa.com[25]
- www.femsa.com[26]
- coca-colafemsa.com[27]
- www.sec.gov[28]
- MEXICAN ECONOMIC DEVELOPMENT INC — Full financial report (2024 Y)[29]
- www.sec.gov[30]
- www.sec.gov[31]
- www.femsa.com[32]
- www.femsa.com[33]
- coca-colafemsa.com[34]
- femsa.gcs-web.com[35]
- femsa.gcs-web.com[36]
- www.femsa.com[37]
- femsa.gcs-web.com[38]
Continue your research
From company context to financial detail.
Explore original sources and worldwide fundamental financial data and intelligence with Finbar.
Explore MEXICAN ECONOMIC DEVELOPMENT INC in Finbar ↗