FEMSA, the Monterrey-based company that owns Oxxo, reported that it completed the acquisition of the small-sized proximity stores OK Market in the Chilean market, whose negotiation was announced in October last year for 43.5 billion Chilean pesos (about 54.49 million dollars). , at today's exchange rate).
The transaction will add 134 locations to the existing presence of Femsa's proximity business in that country, where it will reach 258 locations.
During 2019, the chain registered total sales of more than 50,000 million Chilean pesos, according to data shared in October.
"With this transaction, Femsa increases its commitment and consolidates its position as a convenience store operator in Chile, improving its scale and ability to better serve its Chilean consumers," the firm added in a statement.
The company's proximity division, with Oxxo, is the one with the best performance and represents 35% of the company's total income. From October to December, this division registered an increase in sales of 14.4% and 12.5% in same-store sales (which are those that have been in operation for more than 12 months). In addition, its Ebitda increased 25.5% in the period.
In the report, the company explained that the results are due to a growth of 10.4% in the average ticket and 1.9% in traffic (the number of people who go), which is a reflection of the "good performance of the category of meeting, including beer”. Oxxo closed the year with 20,431 stores.
