Mexico's Femsa Eyes Oxxo Expansion, New Ventures Reuters
go to original March 1, 2013

MEXICO CITY - Mexican retailer and bottling company Femsa expects to further expand its Oxxo convenience store chain this year and may venture further into new businesses such as drugstores and fast food, an executive told analysts on a call on Thursday.

The company, which co-owns Coke bottler Coca-Cola Femsa with The Coca-Cola Co, will spend about $400 million on expanding and improving its retail unit this year, Chief Financial Officer Javier Astaburuaga said.

Femsa did not say how many Oxxo stores it hopes to open in 2013, but the level of spending is in line with investment in 2012. The company ended 2012 with 10,601 stores, up 10.9 percent from 9,561 stores at the end of 2011.

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