FEMSA Expands Retail Footprint with $385M Delek US Acquisition

Mexico's FEMSA is set to acquire the retail operations of Delek US Holdings for $385 million. The transaction includes 249 convenience stores in Texas and is anticipated to close in the second half of 2024, subject to regulatory approval.

Mexico's FEMSA, a prominent player in the retail and beverage sector, announced on Thursday its strategic acquisition of Delek US Holdings' retail operations for a substantial $385 million.

The transaction encompasses 249 convenience stores, primarily based in Texas, and includes the addition of inventories to FEMSA's portfolio. The company, known for operating one of the largest Coca-Cola bottling franchises and various convenience store chains, revealed that the deal is pending regulatory approval and is projected to be finalized in the latter half of 2024.

Delek US Holdings, specializing in crude oil refining, is offloading its retail segment as part of its strategic shift.

(With inputs from agencies.)