Mexico’s FEMSA has announced U.S. billionaire, Bill Gates, has acquired a 14.7% stake in the company. The company was forced to make the announcement before it was ready when market rumors were spreading that Gates bought all the shares available.
Founded in 1890 in Monterrey, Mexico, FEMSA is comprised of two complementary business units: Coca-Cola FEMSA, the largest public bottler of Coca-Cola products in the world in terms of sales volume, and FEMSA Comercio, the largest and fastest growing convenience store operator in Mexico by number of stores.
The Mexican company see the investment as an affirmation of its business, its business model and growth prospects. Currently the company operates in 9 Latin American countries and has 31 bottling plants throughout the region.
In 2010 the company reported revenues of $13.7 billion and net income of $3.2 billion and employs close to 100,000 people.