Popular Latin America convenience store chain Oxxo has announced its slated southern US expansion. The announcement follows its parent company, Femsa, paid $385 million to acquire 249 Delek US Holdings convenience stores under the DK and Alon banners. The majority of the DK and Alon stores are located in Texas.
The transaction is still beholden to US approval, which is expected to occur in the second half of 2024.
“With a total market of more than $850 billion, more than 150,000 locations and high fragmentation, the U.S. convenience and mobility market is attractive for operators with the right capabilities and sufficient scale,” FEMSA stated.
“For FEMSA, this market fits its strategy and offers an opportunity to build a platform that, over time, has the potential to achieve scale and create value for its shareholders”.
What is Oxxo?
Oxxo is a well-known convenience store chain originating in Mexico, boasting over 20,000 locations across Latin America. The brand is fully owned by Femsa, a major Mexican multinational company.
What is Oxxo known for?
Oxxo is renowned for its extensive range of snacks, essential groceries, cosmetics, personal care items, and beverages at affordable prices – all available 24/7. Beyond shopping, customers can also pay bills, transfer money, and recharge their phones at Oxxo stores.
When will Oxxo open in Texas?
As stated, Femsa’s acquisition of the DK US Holdings convenience stores is subject to the approval of the US. Officials are expected to approve the purchase in the second half of 2024.
Where will Oxxo open locations in Texas?
Oxxo does currently have a Texas storefront. Its one and only location is open in Eagle Pass, Texas. As for its expansion, the company hasn’t identified which specific storefronts that its purchased from Delek US Holdings. That said, the majority of DK and Alon convenience stores are located in West and Central Texas.