Coca-Cola FEMSA, S.A.B. de C.V., known as Coca-Cola FEMSA or KOF, is a Mexican multinationalbeverage company headquartered in Mexico City, Mexico. It is a subsidiary of FEMSA which owns 47.8% of its stock, with 27.8% held by wholly owned subsidiaries of The Coca-Cola Company and the remaining 25% listed publicly on the Mexican Stock Exchange (since 1993) and the New York Stock Exchange (since 1998).[1] It is the largest franchise Coca-Cola bottler in the world, the company has operations in Latin America, although its largest and most profitable market is in Mexico.[2][3]
History
Coca-Cola FEMSA began as a joint venture with The Coca-Cola Company in 1991 with FEMSA initially owning 51% of the stock. It started expanding its international operations in 2003 when it acquired Panamerican Beverages (Panamco), another Mexican Coca-Cola bottler with operations in Central America, Colombia, Venezuela, and Brazil. It later acquired additional bottling companies in Brazil (its second largest market) as well as the main Coca-Cola bottler in the Philippines in 2013, until 2018 when the company was then renamed to Coca-Cola Beverages Philippines.[3][4]
In 2007, Coca-Cola FEMSA acquired Jugos del Valle in a joint venture with The Coca-Cola Company.[5] In June 2008, Coca-Cola FEMSA acquired Refrigerantes Minas Gerais.[6]
In 2011, the company merged Grupo Tampico and Corporación Los Angeles.[7] Later that same year, Coca-Cola FEMSA acquired Grupo Industrias Lacteas, parent company of Estrella Azul, in a joint venture with The Coca-Cola Company.[8]
Coca-Cola FEMSA merged beverage operations with Grupo Fomento Queretano in 2012.[9] In 2013, the company merged more bottling operations with Grupo Yoli as well as acquiring Brazilian companies Companhia Fluminense de Refrigerantes and Industria Brasileira de Bebidas.[10]
In 2015, Coca-Cola FEMSA opened two $500 million bottling plants in Itabirito, Brazil, and Tocancipa, Colombia.[11] The company completed its $1 billion acquisition of VONPAR in Brazil in 2016.[12] Coca-Cola and Coca-Cola FEMSA also bought the AdeS brand from Unilever in a joint venture that same year.[13]
In 2018, Coca-Cola FEMSA acquired Guatemalan bottlers ABASA and Los Volcanes as well as MONRESA in Uruguay.[14]
