Welcome Oxxo to the USA!

Exciting news for all the convenience store lovers out there – Oxxo, the popular Mexican chain, is finally making its way to the United States, with Texas being the initial focus!

The parent company of Oxxo, Fomento Económico Mexicano (FEMSA), recently made a significant move by acquiring 249 DK convenience stores in Texas for a whopping $385 million. While the exact store locations are not disclosed yet, the majority of them are in the Lone Star State.

FEMSA has ambitious plans to convert these DK stores into Oxxo locations, leveraging the brand’s success in Mexico. With approximately 90% of DK stores scattered across Texas, the rest are spread out in New Mexico and even have a minor presence in Arkansas.

CEO of FEMSA’s retail operations, José Antonio Fernández Garza-Lagüera, expressed his enthusiasm for this venture into the US market. He mentioned, “We have been building and expanding our retail operation in Mexico for over 45 years, eventually reaching ten other countries in South America and Europe, and a store base of more than 30,000 locations. As we welcome our new DK colleagues into the FEMSA family, we are excited to embark on this new and important journey together.”

Delek CEO Avigal Soreq also shared his excitement about the partnership, stating, “We are pleased with this transaction and expect to execute on additional steps to unlock value for our stakeholders. Importantly, it allows us to gain a competitive partner for ongoing and expanded retail fuel sales.”

The deal is pending regulatory approvals and is anticipated to conclude in the latter half of 2024. Stay tuned for the grand unveiling of Oxxo stores in Texas and beyond!