FEMSA to control 100% of OXXO Brazil

Core Insights - FEMSA has entered into definitive agreements with Raízen to amicably terminate their joint venture "Grupo Nós" in Brazil, allowing both companies to focus on their respective business strategies [1] - FEMSA will retain all OXXO stores in Brazil and the distribution center in Cajamar, while Raízen will keep all Shell Select convenience stores [1] - The transaction will be cash-neutral for both parties, with FEMSA assuming the existing debt of Grupo Nós at closing [1] Company Strategy - OXXO Brazil is a strategic priority for FEMSA, with plans for accelerated store expansion and adaptation of the OXXO format to local consumer needs [2] - The company aims to drive long-term returns through sustained top-line growth and operational efficiency in the Brazilian market [2] Market Positioning - FEMSA has tailored OXXO's offerings to meet local consumer preferences, introducing modern retail experiences in a market dominated by traditional trade [3] - The low penetration of modern convenience formats in Brazil presents a significant growth opportunity for FEMSA [3] Leadership Perspective - The CEO of FEMSA Retail expressed appreciation for the collaboration with Raízen and emphasized the commitment to strengthening OXXO's presence in Brazil as part of the long-term growth strategy [4] - The completion of the separation of OXXO and Shell Select stores is subject to regulatory approvals and is expected to close in the coming months [4] Company Overview - FEMSA operates in the retail industry through various divisions, including Proximity Americas with OXXO and Proximity Europe with Valora, and also has a significant presence in the beverage industry through Coca-Cola FEMSA [5] - The company employs over 392,000 people across 18 countries and is recognized in several global sustainability indices [5]