FEMSA invests $129 million in European unit Valora

FEMSA is reorganising its European proximity division, Valora, to prioritise profitability and higher-margin retail formats. For 2026, the division has budgeted 2,481 million Mexican pesos, or about 129 million dollars, in capital expenditures to modernise its store network, expand its avec concept, and maintain pretzel production facilities.

During the second quarter of 2026, Valora generated revenue of 14,491 million Mexican pesos, down 3.8% compared to the second quarter of 2025. In local currency, revenue increased 3.2% and same-store sales rose 1.9%, compared with a reported 5.7% drop in pesos caused by currency conversion. Quarterly operating profit reached 638 million Mexican pesos, a 7.3% decline in pesos but a 0.5% decrease on a comparable basis.

Retail momentum in Switzerland helped local performance, offsetting a slower B2B channel, unfavourable weather, and public transit disruptions in Germany. The division continues to lean into its foodvenience model across Switzerland, Germany, Austria, Luxembourg, and the Netherlands, competing directly with coffee shops and fast-food chains.

As part of its restructuring, FEMSA reduced Valora locations from 2,778 in 2025 to 2,755 by year-end, while annual revenue rose 14.6% to 57,028 million Mexican pesos. By the end of June 2026, the network operated 2,749 points of sale. FEMSA acquired 96.87% of Valora in October 2022 for 22,475 million Mexican pesos and bought the remaining 3.13% in February 2023 for 673 million Mexican pesos.