FEMSA is a Mexican conglomerate built around two core businesses: OXXO convenience retail and Coca-Cola FEMSA beverage bottling. OXXO is the largest small-format convenience store chain in Latin America, with roughly 25,600 locations, primarily in Mexico. OXXO stores serve everyday consumer needs — beer, soft drinks, snacks, tobacco — and also act as financial services agents, processing bill payments, cash withdrawals, remittances, and mobile top-ups. This financial services business generates high-margin commission income. OXXO also earns commercial income through supplier-funded promotions and retail media via its Retina platform, both of which carry minimal cost of goods. Separately, FEMSA owns 47.2% of Coca-Cola FEMSA, the world's largest Coca-Cola franchise bottler by volume, which produces and distributes Coca-Cola trademark beverages to roughly 268 million consumers across Mexico, Central America, and South America, selling approximately 4.2 billion unit cases annually through around 2.1 million points of sale. Beyond these two core businesses, FEMSA operates a pharmacy chain of roughly 4,500 locations across Mexico, Chile, Colombia, and Ecuador; roughly 550 OXXO Gas fuel stations in Mexico; and Valora, a Swiss-based convenience and food-service operator with about 2,755 outlets across German-speaking Europe. FEMSA's growth strategy, called FEMSA Forward, focuses on expanding OXXO in Mexico and Latin America, scaling its Bara discount grocery format, building out its U.S. convenience presence in Texas, and pursuing M&A through Coca-Cola FEMSA in Latin American bottling.