Femsa is a holding company with controlling interests in three entities: It owns a 47% economic and 56% voting interest in Coca-Cola Femsa, while wholly owning Femsa Comercio and CB Equity. CB Equity houses a roughly 15% stake in Heineken, while Comercio operates through three business units: proximity, which houses Oxxo, the largest small-format chain in the Americas, with convenience stores in Mexico and South America (including Brazil through a joint venture with Raizen); health, which operates pharmacies across a geographic footprint similar to Oxxo; and fuel, which operates retail service stations under franchisee arrangements in Mexico. Femsa also controls several other tangential businesses in the U.S., including logistics services and specialized distributors like WAXIE.
DTE, PEP, DKS, CRM
David SwartzEquity Analyst