The company best known for bottling Coca-Cola and operating Oxxo stores has plans to get into the gasoline business in a big way.
Femsa, or Fomento Económico Mexicano, is the largest beverage company in Mexico and Latin America and the world’s largest Coca-Cola bottler.
Now, with energy reforms setting the stage for private operators in the gasoline business, it plans to buy the gas station operations where it has agreements with Pemex franchisers and operates under the brand Oxxo Gas.
The company entered the gasoline business in 1995, but could only do so through third parties who had Pemex franchises. By the end of last year there were 227 such gas stations and they generated 16.2 billion pesos, nearly US $1.1 billion, in sales of gasoline and related products.
In addition, Femsa plans to lease, buy or open more stations in the future, it said in its fourth-quarter financial report, as it embarks upon an aggressive growth strategy in retail gasoline.
Femsa’s fourth-quarter profit was up 45%, mainly due to increased earnings from the beer maker Heineken, of which it owns 20%.
Its Oxxo chain of convenience stores grew nearly 10% to 12,853.
– Source: http://mexiconewsdaily.com/
more recommended stories
K’u’uk: contemporary cuisine or pure alchemy?
Acknowledged at the Food and Travel.
Mérida, one of the best cities to live in Mexico (and the world)
Dan Prescher wrote an article for.
Hacienda Kancabchén: a call from a distant era just 15 miles away from Mérida
Hacienda Kancabchén maintains great part of.
Amazon launches new debit card in México
MEXICO CITY.- Banorte and Mastercard, together.
Over two thousand dogs and cats have been vaccinated in Valladolid
With the installation of seven locations.
Yucatecan pelicans and flamingos on the brink of becoming endangered species
“Pelicans and flamingos are some of.
Teacher Leaders Present an Innovative Blueprint for Relevant Learning in the Age of AI
What does the fourth industrial revolution.
New technology used in Yucatán to find people lost at sea
As part of a third aspect.
“Pet uh” Civil Association aims to promote Peto, Yucatán
PETO.- In the coming weeks the.
Mexico overtakes Brazil as the largest automobile producer in Latin America
Mexico registered a new record in.