Fomento Economico Mexicano SAB de CV : FEMSA Comercio Announces Acquisition of Farmacias Farmacon
December 01, 2014 at 04:00 pm EST
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MONTERREY, MEXICO--(Marketwired - Dec 1, 2014) - FEMSA Comercio, S.A. de C.V. ("FEMSA Comercio") (NYSE: FMX) (BMV: FEMSAUBD) (BMV: FEMSAUB) announced today that its subsidiary Cadena Comercial de Farmacias, S.A.P.I. de C.V. has agreed to acquire 100% of Farmacias Farmacón, a drugstore operator in the western Mexican states of Sinaloa, Sonora, Baja California and Baja California Sur. This transaction represents an important step as FEMSA Comercio advances in its strategy to establish a relevant position in this attractive small-box retail segment.
Headquartered in the city of Culiacán, Sinaloa, Farmacias Farmacón currently operates over two hundred stores.
The transaction is pending customary regulatory approvals, and is expected to close during 1Q15.
FEMSA is a leading company that participates in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world; and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world's leading brewers with operations in over 70 countries. In the retail industry it participates with FEMSA Comercio, operating various small-format chain stores, including OXXO, the largest and fastest-growing chain of stores in Latin America. All of which is supported by a Strategic Business unit.
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a holding company. The Company's segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, S.A.B. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, S.A. de C.V. and subsidiaries (FEMSA Comercio), which consists of a Retail Division operating various small-format chain stores, and CB Equity LLP, which holds its equity investment in Heineken N.V., and Heineken Holding N.V. The Company's Coca-Cola FEMSA produces, markets, sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries, in which it operates. Coca-Cola FEMSA also sells bottled water products. FEMSA participates in the retail sector primarily through FEMSA Comercio.
FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. 
