Fomento Económico Mexicano

Fomento Económico Mexicano, SAB de CV
legal form	Sociedad Anónima
ISIN	MXP320321310
founding	1890
Seat	Monterrey , Mexico
management	Carlos Salazar Lomelín ( CEO )
Number of employees	216,740 (2014)
sales	263 billion pesos (2014) 14.7 billion euros
Branch	beverages
Website	www.femsa.com

Fomento Económico Mexicano ( Spanish for Mexican business development ; completely Fomento Económico Mexicano Sociedad Anónima ; abbreviated FEMSA) is a listed Mexican company with headquarters in Monterrey .

The company is the largest beverage manufacturer in Mexico and in the entire Latin American region.

history

FEMSA was in principle in 1890 with the founding of Cuauhtémoc - Brewery in Monterrey, the oldest beer brand Carta Blanca is still produced today. In 1936 Valores Industriales SA (VISA) was founded as a holding company for all group activities. In 1988 the group was restructured: FEMSA now bundled activities in the areas of soft drinks, beer, packaging and retail. FEMSA shares have been traded on the New York Stock Exchange since 1998 .

In 1969, a new brewery was built on the 34 hectares of a former hacienda in Toluca . In 1970 a brewery was built in Guadalajara , to which the production of the Cervecería Occidental , which had previously been taken over , was relocated. In 1991 a brewery was founded in Sonora .

Over the years, the company's beer business grew through numerous takeovers - in 1929, with the takeover of Cervecería Central in Mexico City, the "enclosure" of today's main competitor Modelo was penetrated early on, in 1945 the Cervecería Nogales in Veracruz was taken over , which enabled the Orizaba- based Moctezuma brewery to enter the area early on . In 1954 the breweries Compañia Cervecera de Tecate, SA in Tecate and the Cervecería de Humaya in Sinaloa were taken over. The beer brand of the same name (Tecate), which was taken over by the first-mentioned brewery, was brought onto the market by the Cuauhtémoc brewery as the first canned beer in Mexico. In 1957 the takeover of the Cervecería del Norte , which was founded in 1919 and also had its headquarters in Monterrey, Nuevo León, took place. In 1965 two breweries in Chihuahua were taken over, followed in 1985 by the acquisition of larger shares in the Moctezuma brewery . In 1988 the Cuauhtémoc and Moctezuma breweries merged, bringing in brands such as XX Lager , Superior , Sol and Noche Buena . Since then, all breweries with the former names Cuauhtémoc or Moctezuma have been operating under the double name Cervecería Cuauhtémoc Moctezuma . In 2005, the Especialidades Cerveceras brewery, also located in Monterrey, was taken over . In 2006 , the company expanded to Brazil with the takeover of the Kaiser brewery , which was renamed FEMSA Cerveja Brasil . In 2010 FEMSA transferred its entire beer business to Heineken , for which FEMSA received a 20% share in Heineken NV

In 1978, the company's first store under the OXXO brand was opened in Monterrey. By 1999 the chain had grown to 1,000 stores. In the years that followed, FEMSA achieved further rapid growth, opening the 7,000th store in 2009, the 8,000th store in 2010 and the 9,000th store just one year later.

In 1979, when Coca-Cola FEMSA was founded, the company entered the soft drink market; in 1993, 31.6% of Coca-Cola FEMSA was sold to the Coca-Cola Company in Atlanta (United States). In 1994, 51% of Coca-Cola Argentina Buenos Aires was acquired. In 2003 the takeover of Panamerican Beverages Inc. (Panamco), a large Coca-Cola bottler with activities in Mexico, Guatemala , Nicaragua , Costa Rica , Panama , Colombia , Venezuela and Brazil , took place in 2007 together with the Coca-Cola Company of the juice producer Jugos del Valle and in 2008 the takeover of Refrigerantes Minas Gerais Ltda. (Remil) in Belo Horizonte , a Coca-Cola bottler in Brazil. In 2011 further acquisitions followed in Panama with Estrella Azul and El Prado .

In 2013, the Brazilian competitors Companhia Fluminense de Refrigerantes and (for USD 1.8 billion) Spaipa were bought.

activities

Today FEMSA consists of three business areas.

Coca-Cola FEMSA

With 64 plants, more than 120,000 employees and sales of USD 9.99 billion , Coca-Cola FEMSA was one of the world's largest bottlers of beverages for the Coca-Cola Company in 2014. A total of over 100 beverage brands (including various Coca-Cola varieties, Sprite , Fanta , Fresca, Lift, Delaware Punch, Mundet, Extra Poma, Senzao, Beat, Etiqueta Azul, Power Ade, Te Nestea, Adventures and Ciel) are sold in nine countries Latin America and the Philippines.

Coca-Cola FEMSA is 28.7% owned by the Coca-Cola Company and is FEMSA's largest division with sales of Pesos 124.715 billion in fiscal 2008.

FEMSA Comercio

FEMSA Comercio operates OXXO , Mexico's largest chain of convenience shops with 9561 stores. OXXO sells around 13% of the former beer production of FEMSA Cerveza and is also the main distribution channel for Coca-Cola products in Mexico.

FEMSA Cerveza

Bohemia obscura

SOL

By 2010, FEMSA Cerveza operated six breweries in Mexico and eight in Brazil with a total of 35 beer brands. FEMSA Cerveza also produced glass bottles, beverage cans and crown caps .

In 2008, FEMSA Cerveza achieved sales of 47.15 billion pesos.

The main brands of beer produced by FEMSA were:

• Bohemia : has been brewed since 1905.
• Carta Blanca : the first brand of beer to be brewed by the Cervecería Cuauhtémoc Moctezuma, founded in Monterrey in 1890 . The beer was awarded a gold medal at the Chicago World's Fair in 1893.
• Dos Equis : The beer was first brewed towards the end of the 19th century by the German master brewer Wilhelm Hasse in the Cervecería Moctezuma in Orizaba. It was originally called "Siglo XX" (20th century) to celebrate the beginning of the new century.
• Indio : The brand has been brewed since 1905 and was originally called Cuauhtémoc . Since it was popularly referred to as “Indio”, however, it was finally renamed accordingly.
• Noche Buena : The beer is a kind of Christmas ram and is only available in December.
• SOL : after Corona (Grupo Modelo) the best-selling and internationally best-known beer in Mexico.
• Superior : the first beer launched by the Moctezuma brewery in Orizaba in 1896.
• Tecate : was launched in 1944 by the Compañía Cervecera de Tecate and has been marketed by Cuauhtémoc and FEMSA since they were taken over.

On January 11, 2009, Heineken announced that it would take over the beer business from FEMSA. The takeover initiated by FEMSA was valued at 5.6 billion euros and was carried out as a share swap. With the completion of the transaction in April 2010, FEMSA has a 20% stake in Heineken NV and has two members on the Supervisory Board.

Since January 2016, the beer brand "SOL" has been sold in Germany by the Radeberger Group.

See also

• Breweries in Mexico
• List of the largest companies in Latin America
• List of the largest companies in Mexico
• List of active breweries

Web links

• Fomento Económico Mexicano
• Cervecería Cuauhtémoc Moctezuma (FEMSA Cerveza, breweries)
• OXXO (FEMSA Comercio, food distribution)

Individual evidence

1. ↑ ^{a b} FEMSA 2014 Form 20-F Report , accessed on February 14, 2015
2. ↑ Converted at the rate on the balance sheet date, December 31, 2014
3. ^ "FEMSA Closes Strategic Transaction with Heineken"
4. ↑ Detailed presentation of the history of FEMSA ( Memento of the original from March 7, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
5. ↑ FEMSA Business Units ( Memento of the original from February 25, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
6. ↑ Coca-Cola Femsa 2014 Annual Report ( Memento of the original dated February 14, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed February 14, 2016 
7. ↑ Overview Coca-Cola FEMSA ( Memento of the original from March 22, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
8. ↑ Overview FEMSA Comercio ( Memento of the original from March 7, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. 
9. ↑ Overview of FEMSA Cerveza ( Memento of the original from March 11, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
10. ↑ Announcement of the transaction in the Handelsblatt
11. ↑ Overview of FEMSA Beer Shareholder ( Memento of the original from January 18, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
12. ↑ Press releases of the Radeberger Group from January 20, 2016