Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) announced on September 4, 2025, that it has entered into definitive agreements with Raízen, S.A. to amicably terminate their joint venture in Brazil, known as 'Grupo Nós'. Under the terms, FEMSA will retain all OXXO stores in Brazil, along with the distribution center located in Cajamar, São Paulo.
Raízen will retain all Shell Select convenience stores, and other assets and liabilities will be allocated as agreed. The transaction is cash-neutral for both parties, with FEMSA assuming the existing and outstanding debt of Grupo Nós as of closing.
OXXO Brazil is identified as a top strategic priority within FEMSA’s retail business strategy, given the country’s large market size and fragmented retail landscape. FEMSA aims for accelerated store expansion and expects 20% growth for the foreseeable future in Brazil, adapting the OXXO format to local consumer needs to drive long-term return on invested capital.
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