FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V.

FMX: Mexico-based Femsa is a beverage and retail conglomerate in Central and South America. The holding company owns controlling stakes in bottler Coca-Cola Femsa (47% economic stake, 56% voting rights), in addition to operating 100%-owned retail assets, including convenience stores under the Oxxo banner, drugstores, and gas stations. The firm is in the process of divesting its 15% stake in Heineken and distribution business, Envoy Solutions. Coca-Cola Femsa and the Oxxo chain made up 70% of total company revenue and around 75% of profits in 2022.