Mexican bottling and retail company Femsa decided to pursue an aggressive growth strategy in retail gasoline by buying gas station franchises of the Mexican state oil company.
Mexican bottling and retail company Femsa on Thursday said that it decided to pursue an aggressive growth strategy in retail gasoline by buying gas station franchises of Mexican state oil company Pemex, which it said a sweeping energy reform finalized last year now allows it to do.
The reform gradually liberalizes the retail gasoline sector in Mexico, allowing the creation of gas stations without Pemex branding and the sale of gasoline not purchased from the country’s long-time monopoly supplier.
The company, which co-owns Coke bottler Coca-Cola Femsa and operates the Oxxo chain of convenience stores, reported a profit of 7.254 billion pesos (US$492 million).
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