Oxxo are stores owned by FEMSA. REUTERS/Daniel Becerril

Last Wednesday, February 15, the company Mexican Economic Development (FEMSA)announced that, within two to three years, it will put its shares on the market in Heinekenwhich are equivalent to 14% Dutch beerand will use the resources to repay a portion of its debt and fund its future growth through increase in capital investments (CAPEX).

Per a statement posted on its website, FEMSA reported that he “announced today that his board of directors approved a new long-term plan to maximize value creation, as well as certain decisions resulting from its strategic review.

After an analysis carried out last year, the company, which among other things manages the stores oxxobelieves that the best way to maximize long-term value creation is to “focus on its key vertical businesses”.

According to his explanation, the divestment in Heineken is subject to market conditions and the administrators appointed by FEMSA will resign from Heineken’s Boards of Directors. “FEMSA will explore strategic alternatives for Sent Solutions, as well as for its other minority investments and other non-strategic and non-core business units. FEMSA will reduce its existing debt to achieve a leverage of approximately 2x net debt/EBITDA ex-KOF1, in order to maintain a strong investment grade credit rating. Capital in excess of what is needed for organic and inorganic growth in our core businesses will be returned to FEMSA shareholders over time. »

It was recently reported that FEMSA was considering bringing the Oxxos to the United States.  Photo: Femsa.
It was recently reported that FEMSA was considering bringing the Oxxos to the United States. Photo: Femsa.

Following this announcement, a few days later, the company announced its intention to bring Oxxo stores to the United States (USA)in addition to considering expanding its store model without checkouts and with artificial intelligence, it assured Daniel Rodríguez Cofre, CEO of the company.

Rodríguez Cofre pointed out that, only in Mexico, they continue to see many opportunities for the growth of oxxothey therefore think they can continue with growth rates between 800 and one thousand units per year.

“Disinvestment in Heineken This will give you resources, but it will also free you from regulatory constraints on your intentions to boost retail in the retail market. UNITED STATES“, underlined Rodríguez Cofre.

And it is that currently Oxxo is one of FEMSA’s most profitable companies. These convenience stores are not only found in Mexico, but they can also be found in other countries, so if they made it to the United States, it would not be the first foreign country to receive them.

Fomento Económico Mexicano (FEMSA) recently sold its shares in Heineken.  REUTERS/Daniel Becerril
Fomento Económico Mexicano (FEMSA) recently sold its shares in Heineken. REUTERS/Daniel Becerril

In 2009, Oxxo opened its first store outside of Mexico. The first foreign country in which this chain of convenience stores was established, was ColombiaCountry of South America. By mid-2022 it already had a standard 190 stores, although local media reported that in October the chain it already had 205 stores.

A Colombia disappear Perucountry in which he arrived oxxo in 2018. In January 2023, the company already had, at least, 78 branches in the South American country.

After Mexico, Brazil is the country with the largest market for Oxxo, Well, after the alliance of FEMSA con We Group, in 2020, oxxo could open 250 stores under this name. Additionally, 1,162 are operated under the Shell Select brand.

Chile It is another of the Latin American countries in which we already find Oxxo. According to the 2021 annual report, published in April 2022, the company at the time already had at least 122 stores.

In October 2022, FEMSA has completed the purchase of the Valora chain, which has around 2,700 points of sale in different European countries: Switzerland, Germany, Austria, Luxembourg and the Netherlands. As a matter of strategy, it was decided to continue operating under the stores’ original name.

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