Fomento Economico Mexicano SAB (FEMSA) history, company profile (overview) and history video
Fomento Económico Mexicano, S.A.B. de C.V., (FEMSA) is a multinational beverage and retail company headquartered in Monterrey, Mexico.
The company operates through the following business units: Proximity Division, FEMSA Salud, Digital@FEMSA, Coca-Cola FEMSA, and Strategic Businesses. It is also a shareholder of Heineken.
HISTORY
FEMSA’s history began in 1890 when five entrepreneurs, Isaac Garza, José Calderón, José A. Muguerza, Francisco G. Sada, and Joseph M. Schnaider founded the Cervecería Cuauhtémoc brewery, at the time also known as Fábrica de Hielo y Cerveza Cuauhtémoc, at Monterrey, Nuevo León, Mexico.
In 1936, Valores Industriales S.A. (VISA) was formed as a holding company for all the group members: Cervecería Cuauhtémoc, Famosa, Titán, Malta, and others.
In 1979, VISA’s Soft Drinks Division acquired its first Coca-Cola franchise (later become Coca-Cola FEMSA).
In 1985, the company merged with Cervecería Moctezuma.
In 1988, FEMSA was constituted as the major subsidiary of VISA.
In 1998, the company changed its name from VISA to FEMSA.
In May 1998, FEMSA was listed on the New York Stock Exchange (NYSE).
In 2003, the company bought Panamerican Beverages, Inc., Panamco, and the largest bottling operation in Latin America and one of the three largest bottlers of Coca-Cola beverages in the world.
In 2006, the control of the Brazilian brewing company Kaiser was acquired.
In 2009, FEMSA acquired the Brisa bottled water business, including the brand and profitable assets, owned by Bavaria, a subsidiary of SABMiller.
In 2015, the company acquired a majority stake in Grupo Socofar, (“Socofar”), a leading pharmacy operator in South America.
In 2022, the company acquired Valora, one of the foodvenience leaders in the European market, with operations in Switzerland, Germany, Austria, Luxembourg, and the Netherlands.
SUBSIDIARIES
- Coca-Cola FEMSA (47.2% owned);
- FEMSA Comercio – Proximity Division (100% owned);
- FEMSA Comercio – Health Division (100% owned);
- FEMSA Comercio – Fuel Division (100% owned);
- Heineken – (14.8% interest)
With more than 230,000 employees, Fomento Económico Mexicano S.A.B. de C.V. (FEMSA) is considered one of the largest beverage companies in Mexico and Latin America. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes, Wikipedia.org, and www.femsa.com.
