FEMSA assumes full ownership of OXXO Brazil
Rhea-AI Summary
FEMSA (NYSE: FMX) completed the separation of the Grupo Nós joint venture with Raízen on Feb 2, 2026, resulting in FEMSA assuming full ownership of OXXO Brazil.
As part of the transaction, FEMSA retained the OXXO stores in Brazil and the distribution center in Cajamar, São Paulo. Remaining Grupo Nós assets and liabilities were allocated between FEMSA and Raízen according to their businesses.
Positive
- Completed separation from Grupo Nós with Raízen on Feb 2, 2026
- FEMSA retained OXXO stores in Brazil and the Cajamar distribution center
Negative
- None.
Market Reality Check
Peers on Argus
FMX fell 1.69% while key beverage peers were mixed: ABEV -0.71%, STZ +1.19%, BUD +0.53%, TAP +0.36%, CCEP +0.69%, suggesting stock-specific factors around the OXXO Brazil ownership shift.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 02 | Capital return | Positive | +5.7% | Accelerated share repurchase of <b>$260M</b> in ADSs announced. |
| Oct 28 | Quarterly earnings | Positive | -0.6% | 3Q25 revenues and operating income grew across key FEMSA segments. |
| Oct 14 | Earnings call setup | Neutral | -0.6% | Scheduled call and release date for third quarter 2025 financial results. |
| Sep 17 | Leadership change | Neutral | -0.4% | Announcement of new CEO effective Nov 1, 2025 and succession plan. |
| Sep 04 | Strategic JV change | Positive | +2.1% | Agreement for FEMSA to control 100% of OXXO Brazil and Cajamar DC. |
FMX has tended to react positively to capital return and Brazil-focused OXXO announcements, while one recent earnings release showed a mild negative divergence despite growth metrics.
Over the last six months, FEMSA has highlighted capital returns and strategic retail positioning. On Sep 04, 2025, it announced plans to control 100% of OXXO Brazil, with a 2.13% next-day gain. A leadership succession update on Sep 17, 2025 and an earnings release on Oct 28, 2025 brought modest share moves, including a -0.61% reaction to otherwise growing revenues and operating income. The Dec 02, 2025 accelerated share repurchase of $260M drove a 5.67% rise, underscoring market support for shareholder-focused actions as FEMSA refines its portfolio, including OXXO Brazil.
Market Pulse Summary
This announcement finalizes FEMSA’s separation of the Grupo Nós joint venture, leaving it with the OXXO stores in Brazil and the Cajamar distribution center, consistent with its earlier plan to control 100% of OXXO Brazil. Historically, the market responded positively to that strategy shift, with a 2.13% move after the September 2025 announcement. Investors may track future disclosures for details on the allocated assets and liabilities, as well as how Brazil’s OXXO performance flows through upcoming earnings.
AI-generated analysis. Not financial advice.
MONTERREY, Mexico, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) today announced that it has completed the separation of the Grupo Nós joint venture in Brazil with Raízen S.A. (“Raízen”).
As a result of this transaction, FEMSA retained the OXXO stores in Brazil, as well as the distribution center located in Cajamar, São Paulo. The remaining assets and liabilities of Grupo Nós have been allocated between FEMSA and Raízen in accordance with their business.
About FEMSA
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Americas Division operating OXXO, a small-format store chain, and other related retail formats, and Proximity Europe which includes Valora, our European retail unit which operates convenience and foodvenience formats. In the retail industry it also participates though a Health Division, which includes drugstores and related activities and Spin, which includes Spin by OXXO and Spin Premia, among other digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume. Across its business units, FEMSA has more than 392,000 employees in 18 countries. FEMSA is a member of the Dow Jones Bestin-Class World Index & Dow Jones Best-in-Class MILA Pacific Alliance Index, both from S&P Global; FTSE4Good Emerging Index; MSCI EM Latin America ESG Leaders Index; S&P/BMV Total México ESG, among other indexes.
Investor Contact (52) 818-328-6000 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com
FAQ
What did FEMSA announce about OXXO Brazil on February 2, 2026 (FMX)?
Does FEMSA (FMX) now own the OXXO stores in Brazil?
Which physical assets did FEMSA keep in Brazil after the Grupo Nós separation (FMX)?
How were remaining Grupo Nós assets and liabilities handled in the FMX transaction?
