Fomento Economico Mexicano (FEMSA) announced this Monday that it has successfully closed the acquisition of OK Market, a chain of small format proximity stores in Chile, after having received the corresponding regulatory approvals.
This transaction will add 134 locations to the existing presence of FEMSA’s Proximity business in this important market, to reach 258 locations.
With this, FEMSA increases its commitment as a convenience store operator in Chile, improving its scale and ability to better serve its Chilean consumers.
OK Market
In 2021, FEMSA recorded sales of 556,261 million pesos, which means an increase of 12.8% year-on-year.
Also, in that year, its net profits were 37,678 million pesos.
The closing of the purchase of OK Market occurred more than a year after the transaction was disclosed.
FEMSA participates in retail trade through the Proximity Division, of which OXXO, a chain of small-format stores, is a part; a Health Division that includes pharmacies and related activities; and OXXO Gas, a chain of OXXO Gas service stations.
For its part, the FEMSA Digital Division includes Spin by OXXO and OXXO Premia, in addition to other loyalty initiatives and digital financial services.
In the beverage industry, it participates by operating Coca-Cola FEMSA, the largest bottler of Coca-Cola products in the world by sales volume; and in the beer sector, as the second largest shareholder in Heineken, one of the world’s leading brewers with a presence in more than 70 countries.
FEMSA also participates in the logistics and distribution industry through FEMSA Strategic Businesses, which additionally provides refrigeration solutions at the point of sale and plastic solutions to its companies and external clients.
Through its Business Units it employs more than 320,000 collaborators in 13 countries. FEMSA is a member of the MILA Pacific Alliance Sustainability Index of the Dow Jones, the FTSE4Good Emerging Index and the IPC Sustentable of the Mexican Stock Exchange, among other indices that evaluate its performance in sustainability
The company maintains the same resources, has not identified additional risks that may affect its operations and equity according to the risks reported at the end of 2020 and there have been no changes in its most significant relationships.
