Coca-Cola FEMSA, S.A.B. de C.V. operates as a franchise bottler of Coca-Cola trademark products worldwide.
The company produces and distributes Coca-Cola trademark beverages, offering a wide portfolio of brands to approximately 276 million consumers each day. It markets and sells approximately 4.2 billion unit cases per year through approximately 2.2 million points of sale. The company operates 56 bottling plants and 256 distribution centers.
The company operates in territories in the followin...
Coca-Cola FEMSA, S.A.B. de C.V. operates as a franchise bottler of Coca-Cola trademark products worldwide.
The company produces and distributes Coca-Cola trademark beverages, offering a wide portfolio of brands to approximately 276 million consumers each day. It markets and sells approximately 4.2 billion unit cases per year through approximately 2.2 million points of sale. The company operates 56 bottling plants and 256 distribution centers.
The company operates in territories in the following countries:
Mexico—a substantial portion of central Mexico, the southeast, and northeast of Mexico.
Guatemala.
Nicaragua.
Costa Rica.
Panama.
Colombia—most of the country.
Brazil—a major part of the states of São Paulo and Minas Gerais, the states of Paraná, Santa Catarina, Mato Grosso do Sul, and Rio Grande do Sul, and part of the states of Rio de Janeiro and Goiás.
Argentina—Buenos Aires and surrounding areas.
Uruguay.
The company also operates in Venezuela through its investment in Coca-Cola FEMSA de Venezuela, S.A., or KOF Venezuela.
The company is a subsidiary of FEMSA, a company that participates in the retail industry through the following divisions: the Proximity Americas Division, operating the OXXO small-format store chain in Latin America and the United States; the Proximity Europe Division, small-format retail and food convenience chains in Europe operated by Valora; the Fuel Division, operating the OXXO Gas chain of retail service stations; and the Health Division, which includes pharmacy services locations and related operations. FEMSA participates in the beverage industry through the company. FEMSA also participates in the financial services industry through Spin, which seeks to build innovative digital solutions to address the financial needs of its customers and business partners; in addition, it is developing and growing digitally-enabled loyalty initiatives leveraged on strategic partnerships and its businesses. Additionally, FEMSA participates in other non-core businesses, including its logistics and distribution business, which is currently classified by FEMSA as assets held for sale and discontinued operations.
As of December 31, 2024, the company owned 56 bottling plants. By country, as of December 31, 2024, it had 28 bottling plants in Mexico, seven in Central America, seven in Colombia, 11 in Brazil, two in Argentina, and one in Uruguay.
As of December 31, 2024, the company operated 256 distribution centers, approximately 50.0% of which were in the company’s Mexican territories. As of December 31, 2024, it owned 82.0% of these distribution centers and leased the remainder. This calculation considers owned and third-party distribution centers managed by the company in Mexico.
Business Strategy
To consolidate the company’s position as a global leader in its industry and strengthen its value proposition for its retail clients and end consumers, it is leveraging its strengths, its rights-to-win, and working on the following six strategic priorities as its guiding principles: grow the core, be the preferred commercial platform, strategic M&A, de-bottleneck its infrastructure and digitize the enterprise, strengthen its customer-centric culture, and foster a sustainable future.
Products
The company produces, markets, sells, and distributes mainly The Coca-Cola Company trademark beverage portfolio. These include sparkling beverages (colas and flavored sparkling beverages), waters, and other non-carbonated beverages (including tea, sports drinks, energy drinks, fruit-based beverages, juice, coffee, milk, value-added dairy, plant-based drinks), and certain alcoholic ready-to-drink beverages, such as Topo Chico hard seltzer.
In addition, through certain distribution agreements, the company distributes and sells certain consumer products and alcoholic beverages in most of its territories, including Monster products in all the countries where it operates, Heineken-owned brand beer products in certain markets, and Estrella Galicia, Therezópolis beer products, Campari alcoholic beverages, and Perfetti confectionery and chewing gum in its Brazilian territories. This multi-category strategy aims to enhance its value proposition for retailers and consumers in the market, leveraging a curated portfolio that allows the company to increase sales of its core portfolio and complement its reach, generating network effects that further strengthen its platform.
Packaging
The company produces, markets, sells, and distributes Coca-Cola trademark beverages in each of its territories in containers authorized by The Coca-Cola Company, which consist primarily of a variety of returnable and non-returnable presentations in the form of glass bottles, cans, and plastic bottles mainly made of PET resin. The company uses the term presentation to refer to the packaging unit in which it sells its products. Presentation sizes for the company’s Coca-Cola trademark beverages range from a 192-milliliter personal size to a 20-liter bulk serving size. For all of the company’s products excluding water, it considers a multiple serving size as equal to, or larger than, 1.0 liter. In general, personal sizes have a higher price per unit case compared to multiple serving sizes. The company offers both returnable and non-returnable presentations, which allow it to offer portfolio alternatives based on convenience and affordability to implement revenue management strategies and target specific distribution channels and population segments in its territories. In addition, it sells some Coca-Cola trademark beverage syrups in containers designed for soda fountain use, which it refers to as fountain.
Additionally, the company informs its consumers through front labeling on the nutrient composition and caloric content of its beverages in accordance with local laws and regulations. It voluntarily adheres to national and international codes of conduct in advertising and marketing, including communications targeted to minors, which are developed based on the Responsible Marketing policies and Global School Beverage Guidelines of The Coca-Cola Company, achieving full compliance with all such codes, regulations, and guidelines in all of the countries where it operates.
Seasonality
Sales of the company’s products are seasonal in all of the countries where it operates, as its sales volumes generally increase during the summer months of each country and during the year-end holiday season. In Mexico, Central America, and Colombia, the company typically achieves its highest sales during the months of April through August, as well as during the year-end holidays in December. In Brazil, Uruguay, and Argentina, its highest sales levels occur during the summer months of October through March, including the year-end holidays in December.
Marketing
The company, in conjunction with The Coca-Cola Company, has developed a marketing strategy to promote the sale and consumption of its products. It relies extensively on advertising, sales promotions, and retailer support programs to target the particular preferences of its consumers.
Retailer Support Programs: Support programs include providing retailers with point-of-sale display materials and consumer sales promotions, such as contests, sweepstakes, and the giveaway of product samples.
Coolers: Coolers play an integral role in the company’s clients’ plans for success. Increasing both cooler coverage and the number of cooler doors among its retailers is important to ensure that its wide variety of products are properly displayed, while strengthening its merchandising capacity in its distribution channels to significantly improve its point-of-sale execution.
Advertising: The company advertises in all major communications media. It focuses its advertising efforts on increasing brand recognition by consumers and improving its customer relations. National advertising campaigns are designed and proposed by The Coca-Cola Company’s local affiliates in the countries where it operates, with input from the company at the local or regional level. Point-of-sale merchandising and advertising efforts are proposed and implemented by the company, with a focus on increasing its connection with customers and consumers.
Marketing in the company’s Distribution Channels: In order to provide more dynamic and specialized marketing of its products, the company’s strategy is to classify its markets and develop targeted efforts for each consumer segment or distribution channel. Its principal channels are small retailers, ‘on-premise’ accounts, such as restaurants and bars, supermarkets, and third-party distributors. Presence in these channels entails a comprehensive and detailed analysis of the purchasing patterns and preferences of various groups of beverage consumers in each of the different types of locations or distribution channels. In response to this analysis, the company tailors its product, price, packaging, and distribution strategies to meet the particular needs of and exploit the potential of each channel.
Multi-Segmentation: The company has implemented a multi-segmentation strategy in all of its markets. These strategies consist of the definition of a strategic market cluster or group and the implementation and assignment of different product/price/package portfolios and service models to such market cluster or group. These clusters are defined based on consumption occasion, competitive environment, income level, and types of distribution channels.
Product Sales and Distribution
The company continuously evaluates its distribution model in order to fit with the local dynamics of the marketplace and analyzes the way it goes to market, recognizing different service needs from its customers, while looking for more efficient distribution models. As part of this strategy, it is rolling out a variety of new distribution models throughout its territories, looking for improvements in its distribution network.
The company uses several sales and distribution models depending on market and geographic conditions and the customer’s profile: the pre-sale system, which separates the sales and delivery functions, permitting trucks to be loaded with the mix of products that retailers have previously ordered, thereby increasing both sales and distribution efficiency; the conventional truck route system, in which the person in charge of the delivery makes immediate sales from inventory available on the truck; sales through digital platforms to access technologically enabled customers; the telemarketing system, which could be combined with pre-sales visits; and sales through third-party wholesalers and other distributors of the company’s products.
As part of the pre-sale system, sales personnel also provide merchandising services during retailer visits, which enhance the shopper experience at the point-of-sale.
The company continues to reinforce its presence in digital sales channels, such as digital platforms, food aggregators, e-commerce websites, and mobile device applications, in an effort to address the growing demand from its business partners through such sales channels. This reinforcement is aligned with its overall digitization and omnichannel strategies.
The company’s distribution centers range from large warehousing facilities to small cross-docking facilities. In addition to its fleet of trucks, it distributes its products in certain locations through electric carts and hand-trucks. In some of its territories, the company relies on third parties to transport its finished products from its bottling plants to its distribution centers and, in some cases, directly to its customers.
Mexico: From the distribution centers, the company distributes its finished products to retailers mainly through its own fleet of trucks. In designated areas in Mexico, third-party distributors deliver its products to retailers and consumers, allowing it to access these areas on a cost-effective basis.
In Mexico, the company sells a majority of its beverages through its traditional distribution channel, which consists of sales at small retail stores to consumers who may take the beverages for consumption at home or elsewhere. It also sells products through modern distribution channels, the ‘on-premise’ consumption segment, home delivery routes, supermarkets, and other locations. Modern distribution channels include large and organized chain retail outlets, such as wholesale supermarkets, discount stores, and convenience stores that sell fast-moving consumer goods, where retailers can buy large volumes of products from various producers. The ‘on-premise’ consumption segment consists of sales through points-of-sale where products are consumed at the establishment from which they were purchased. This includes retailers, such as restaurants and bars, as well as stadiums, auditoriums, and theaters.
Brazil: In Brazil, the company distributes its finished products to retailers through a combination of its own fleet of trucks and third-party distributors, while maintaining control over the selling activities. In designated zones in Brazil, third-party distributors purchase its products and resell them to retailers. In Brazil, the company sells a majority of its beverages at small retail stores. It also sells products through modern distribution channels and ‘on-premise’ consumption. Modern distribution channels in Brazil include large and organized chain retail outlets, such as wholesale supermarkets and discount stores that sell fast-moving consumer goods.
Territories other than Mexico and Brazil: The company distributes its finished products to retailers through a combination of its own fleet of trucks and third-party distributors. In most of its territories, an important part of its total sales volume is sold through small retailers.
Principal Competitors
Mexico and Central America. The company’s principal competitor in Mexico is Grupo GEPP, S.A.P.I. de C.V., the exclusive bottler of Pepsi beverage products and subsidiary of Organización Cultiba, S.A.B. de C.V., a joint venture formed by Grupo Embotelladoras Unidas, S.A.B. de C.V., the former Pepsi bottler in central and southeast Mexico, a subsidiary of PepsiCo and Empresas Polar, S.A., a beer distributor and Pepsi bottler. The company’s main competition in the juice category in Mexico is Grupo Jumex. In the water category, the company’s main competitor is Bonafont, a water brand owned by Danone. In addition, it competes with Keurig Dr Pepper in sparkling beverages and with other local brands in its Mexican territories, as well as ‘B brand’ producers, such as Embotelladora Aga de Mexico, S.A. de C.V. (Red Cola bottler), that offer various presentations of sparkling and still beverages.
In the countries that comprise the company’s Central America region, the company’s main competitors are Pepsi and Big Cola bottlers. In Guatemala, it competes with The Central American Bottler Corporation (‘CBC’), which also has a regional joint venture with AmBev to produce, distribute, and sell beer; Cervecería Centroamericana S.A., which is focused on the beer and stills categories; and AJE Group.
In Nicaragua, the company’s principal competitor is AJE Group. It also competes with the joint venture between CBC and AmBev. In Costa Rica, the company’s principal competitor is Florida Bebidas S.A., a subsidiary of Florida Ice and Farm Co. and Cooperativa de Productores de Leche Dos Pinos R.L. in juices. In Panama, the company’s main competitor is AJE Group, followed by Cervecería Nacional, S.A.
South America. The company’s principal competitor in Colombia is Postobón, a local bottler that sells and distributes sparkling beverages (Manzana Postobón, Uva Postobón, and Colombiana), still beverages (Hit Juice), and water (Crystal). Postobón also sells Pepsi products and is a vertically integrated producer, the owners of which hold other significant commercial and industrial interests in Colombia. The company also competes with low-price producers, such as Ajecolombia S.A., the producers of Big Cola, which principally offer multiple serving size presentations in the sparkling and still beverage industry.
In Brazil, the company competes against AmBev, a company that distributes Pepsi brands, local brands with flavors, such as guarana, and proprietary beer brands. It also competes against B brands or ‘Tubainas,’ which are small, local producers of low-cost sparkling beverages that represent a significant portion of the sparkling beverage market.
In Argentina, the company’s main competitor is Buenos Aires Embotellador S.A., a Pepsi bottler owned by Argentina’s principal brewery, Quilmes Industrial S.A., and indirectly controlled by AmBev. In the water category, it competes directly with Levité, Villavicencio, and Villa del Sur, owned by Danone, which is controlled by Compañía Cervecerías Unidas. In addition, several producers offering ‘B brand,’ low-price sparkling beverages are gaining importance in the market.
In Uruguay, the company’s main competitor is Salus, a water brand owned by Danone. It also competes against Fábricas Nacionales de Cerveza S.A., a Pepsi bottler and distributor controlled by AmBev S.A. In addition, it competes with CCU Inversiones II Ltda., a water, soft drinks, and brewing company, and finally with certain low-priced regional producers.
Suppliers
Mexico and Central America.
In Mexico, the company purchases PET resin mainly from Indorama Ventures Polymers México, S. de R.L. de C.V. and DAK Resinas Americas Mexico, S.A. de C.V., which Alpla México, S.A. de C.V. (‘Alpla’) and Envases Universales de México, S.A.P.I. de C.V. manufacture into non-returnable plastic bottles for the company. It has also shifted its import suppliers from China to Vietnam and Taiwan to mitigate the effects of tariffs and support its PET resin strategy.
The company purchases all of its cans from Crown Envases México, S.A. de C.V., and Envases Universales de México, S.A.P.I. de C.V. It mainly purchases its glass bottles from Owens America, S. de R.L. de C.V., FEVISA Industrial, S.A. de C.V., known as FEVISA, and Glass & Silice, S.A. de C.V., and in 2021, it introduced glass bottles from Middle Eastern suppliers, such as Saudi Arabian Glass Co. Ltd, known as SAGCO.
The company purchases sugar from, among other suppliers, PIASA, Beta San Miguel, S.A. de C.V. or Beta San Miguel, and Ingenio La Gloria, S.A., all of them sugar cane producers. It purchases HFCS from Ingredion México, S.A. de C.V., Cargill de Mexico, S.A. de C.V., and Almidones Mexicanos, S.A. de C.V., known as Almex.
In Central America, the majority of the company’s raw materials, such as glass and non-returnable plastic bottles, are purchased from several local suppliers. It purchases its cans from Envases Universales Ball de Centroamérica, S.A. and Envases Universales de México, S.A.P.I. Sugar is available from suppliers that represent several local producers. In Costa Rica, the company acquires plastic non-returnable bottles from Alpla C.R. S.A., and in Nicaragua, it acquires such plastic bottles from Alpla Nicaragua, S.A.
South America: In Colombia, the company uses sugar as a sweetener in all of its caloric beverages, which it buys from several sources. It purchases non-returnable plastic bottles from Amcor Rigid Plastics de Colombia, S.A. and Envases de Tocancipa S.A.S. (affiliate of Envases Universales de México, S.A.P.I. de C.V.). The company has historically purchased all of its non-returnable glass bottles from O-I Peldar and other global suppliers in the Middle East. It purchases all of its cans from Crown Envases México, S.A. de C.V. and Crown Colombiana, S.A. Grupo Ardila Lulle (owners of the company’s competitor Postobón) owns a minority equity interest in certain of its suppliers, including O-I Peldar and Crown Colombiana, S.A.
In Brazil, the company also uses sugar as a sweetener in all of its caloric beverages. Sugar is available at local market prices, which historically have been similar to international prices. Taking into account the company’s financial hedging activities, its sugar prices in Brazil increased 5.3% in U.S. dollars and 5.8% in local currency as compared to 2023. The company purchases non-returnable glass bottles, plastic bottles, and cans from several domestic and international suppliers. It mainly purchases PET resin from local suppliers, such as Indorama Ventures Polímeros S.A.
In Argentina, the company mainly uses HFCS that it purchases from several different local suppliers as a sweetener in its products. It purchases glass bottles and other raw materials from several domestic sources. The company purchases plastic preforms at competitive prices from Andina Empaques S.A., a local subsidiary of Embotelladora Andina, S.A., a Coca-Cola bottler with operations in Chile, Argentina, Brazil, and Paraguay, Alpla Avellaneda, S.A., AMCOR Argentina, and other local suppliers.
In Uruguay, the company also uses sugar as a sweetener in all of its caloric beverages, which is available at Brazil’s local market prices. The company’s main supplier of sugar is Nardini Agroindustrial Ltda., which is based in Brazil. It purchases PET resin from several Asian suppliers, such as SFX – Jiangyin Xingyu New Material Co. Ltd. and India Reliance Industry (a joint venture with DAK Resinas Americas Mexico, S.A. de C.V.), and it purchases non-returnable plastic bottles from global PET converters, such as Cristalpet S.A. (affiliate of Envases Universales de México, S.A.P.I. de C.V.).
Environmental Regulations
The company’s Central American operations are subject to several federal and local laws and regulations related to the protection of the environment and the disposal of hazardous and toxic materials, as well as water usage. In December 2019, the Costa Rican government enacted Law No. 9,786, which requires that companies that sell, distribute, or produce plastic bottles made of single-use plastics comply with at least one of the following obligations: produce plastic bottles that contain a percentage of recycled resin, implement a recycling or collection program of the plastic bottles sold by such company, participate in waste management programs appropriate to the relevant industry or product, use or produce packaging or products that minimize the generation of solid waste, or establish strategic partnerships with at least one municipality to improve its collection and waste management programs. This law became enforceable through Executive Decree 43985-S and through related guidelines and regulations issued by the Ministry of Health (Ministerio de Salud), with which the company is currently in compliance.
The company’s Argentine operations are subject to federal and municipal laws and regulations relating to the protection of the environment. The regulations most significant to the company’s operations are those concerning wastewater discharge and waste management under Federal Law 24.051 and Decree 9111/78, which are enforced by the Ministry of Tourism, Environment and Sports (Secretaría de Turismo, Ambiente y Deportes).
Other Regulations
In June 2021, the Colombian government issued Resolution 810 of 2021, which sets forth the nutritional and front labeling requirements for canned or packaged food. In December 2022, the government adopted a labeling model similar to that in Mexico: octagonal seals for prepackaged food and non-alcoholic beverages with excess sugar, sodium, saturated and trans fat, in addition to octagonal seals on products containing non-caloric sweeteners. The new labeling requirements came into effect in June 2023. The company was required to comply with this regulation by June 2024, and it is currently in compliance.
In April 2023, the Official Mexican Standard (NOM-127-SSA1-2021) came into force, amending the NOM issued in 2000, imposing new parameters that water for human use and consumption must meet, which are stricter than those set forth in the previous NOM. As a result of these new parameters, the company is reinforcing actions to implement water use optimization initiatives in Mexico.
As of December 31, 2024, 88.0% of the company’s bottling facilities were ISO 14001 certified, and 94.0% are Zero Waste certified.
In the company’s Mexican operations, it established a partnership with The Coca-Cola Company and Alpla, its supplier of plastic bottles in Mexico, to create Industria Mexicana de Reciclaje, S.A. de C.V. (‘IMER’), a PET recycling facility located in Toluca, Mexico. Additionally, in 2022, the company, in partnership with Alpla, started the construction of a recycling plant located in Tabasco, Mexico. This new plant, Planta Nueva Ecología de Tabasco (‘PLANETA’), began operations in 2024, deploying state-of-the-art technology to process up to 50,000 tons of post-consumption PET bottles per year and to produce up to 35,000 tons of food-grade recycled material per year, ready to be reused. This plant increased its installed collection capacity by over 30.0% during 2024. Between IMER and PLANETA, the company recycled 31.5 thousand tons in 2024. It has also continued contributing funds to ECOCE, A.C., a nationwide collector of containers and packaging materials. In 2024, ECOCE collected 64.0% of the total PET resin waste in Mexico. Also, eight of the company’s bottling plants are certified by the international standard of the Alliance for Water Stewardship (the ‘AWS’).
The company’s Costa Rican operations participate in a joint local recycling effort with The Coca-Cola Company at the recycling plant Misión Planeta, located in Alajuela, Costa Rica. This plant collects and recycles non-returnable plastic bottles, aseptic carton packs, and cans. Additionally, in 2024, the company increased its installed collection capacity by 100%, opening two additional centers. Moreover, the company’s Costa Rican operations recycle, reuse, and co-process 100.0% of waste from its bottling plants, leverage certified suppliers, and are in compliance with applicable legislation. The company’s bottling plants in Costa Rica are certified for ISO 50001, ISO 14061-1, and the Zero Waste Certification (Certificación de Sistemas Basura Cero) granted by The Coca-Cola Company.
In Guatemala, the company’s Guatemalan subsidiary and the FEMSA Foundation participate in FUNCAGUA (Fundación para la conservación del agua de la región metropolitana de Guatemala), as founding partners. Several of this institution’s projects are related to sustainable water use. In addition to FUNCAGUA, since July 2023, the company also participates in environmental protection efforts in partnership with the World Wildlife Fund, with respect to the replenishment of water in three sub-basins in María Linda, Ocosito, and Pasabien in Guatemala. Furthermore, it opened a new PET collection center, with 460 tons collected in 2024.
All of the company’s bottling plants in Central America are ISO 14001, ISO 9001:2015, and ISO 45001:2018 certified.
In Brazil, the company’s bottling plant located in Jundiaí has been recognized by the Brazilian authorities for its compliance with environmental regulations and for having standards well above those imposed by applicable law. The Itabirito and Maringá bottling plants have a Leadership in Energy and Environmental Design (‘LEED’) certification, which is a globally recognized certification of sustainability in business design. In addition, the 11 bottling plants in Brazil have been certified for ISO 9001, ISO 14001, ISO 45001, and FSSC 22000, and one bottling plant is certified by the AWS. Moreover, in Brazil, three PET collection centers gathered over 48,000 tons throughout the year.
The company has also obtained and maintained the ISO 9001, ISO 14001, ISO 45001, ISO 22000, ISO/TS 22000-1, and FSSC 22000 certifications for its bottling plants located in Tocancipá, Medellín, Cali, Bogotá, Barranquilla, Bucaramanga, and La Calera, as recognition for the highest quality and food harmlessness in the company’s production processes, which is evidence of its strict level of compliance with relevant Colombian regulations. The company’s bottling plant located in Tocancipá obtained the LEED 2009 certification in April 2017. Additionally, the company’s bottling plants in Colombia received the Zero Waste Certification (Certificación de Sistemas Basura Cero), granted by Icontec and the organization Basura Cero Global. In 2024, the company’s Tocancipá bottling plant in Colombia was certified by the AWS with an International Water Stewardship Standard for the responsible use of water. The company’s Colombian operations, along with The Coca-Cola Company, were awarded the Gran Premio a la Sostenibilidad de la Asociación Nacional de Empresas de Servicios Públicos y Comunicaciones (‘ANDESCO’).
The company’s bottling plants and operative units in Buenos Aires, Argentina are certified for ISO 14001:2004, ISO 9001, ISO 45001, and FSSC 22000.
The company’s bottling plant in Montevideo, Uruguay is certified for ISO 14001:2015.
Bottler Agreements
Coca-Cola Bottler Agreements
Bottler agreements are the standard agreements that The Coca-Cola Company enters into with bottlers in each territory. Pursuant to the company’s bottler agreements, it is authorized to manufacture, sell, and distribute Coca-Cola trademark beverages within specific geographic areas, and it is required to purchase concentrate for all Coca-Cola trademark beverages in all of the company’s territories from affiliates of The Coca-Cola Company and sweeteners and other raw materials from companies authorized by The Coca-Cola Company.
As of December 31, 2024, the company had four bottler agreements in Mexico: the agreement for the Valley of Mexico territory, which is up for renewal in June 2033; the agreement for the southeast territory, which is up for renewal in June 2033; the agreement for the Bajío territory, which is up for renewal in May 2035; and the agreement for the Golfo territory, which is up for renewal in May 2035; one bottler agreement in Brazil, which is up for renewal in October 2027; three bottler agreements in Guatemala, two of which are up for renewal in April 2028 and one in March 2035; one bottler agreement in Argentina, which is up for renewal in September 2034; two bottler agreements in Colombia, which are up for renewal in June 2034; one bottler agreement in Costa Rica, which is up for renewal in September 2027; one bottler agreement in Nicaragua, which is up for renewal in May 2026; one bottler agreement in Panama, which is up for renewal in November 2034; and one bottler agreement in Uruguay, which is up for renewal in June 2028.
As of December 31, 2024, the company’s investee KOF Venezuela had one bottler agreement, which is up for renewal in August 2026.
The company has also entered into tradename license agreements with The Coca-Cola Company, pursuant to which it is authorized to use certain trademark names of The Coca-Cola Company with the company’s corporate name. These agreements have a ten-year term and are automatically renewed for ten-year terms, but are terminated if the company ceases to manufacture, market, sell, and distribute Coca-Cola trademark products pursuant to the bottler agreements or if the shareholders agreement is terminated. The Coca-Cola Company also has the right to terminate any license agreement if the company uses its trademark names in a manner not authorized by the bottler agreements.
History
Coca-Cola FEMSA, S.A.B. de C.V. was founded in 1979. The company was incorporated in 1991, as a stock corporation with variable capital (sociedad anónima de capital variable) in accordance with the Mexican General Corporations Law (Ley General de Sociedades Mercantiles).
