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English Español FEMSA Comercio to acquire OK Market stores

The Mexican retailing giant will add 120 convenience stores in Chile to its portfolio.

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FEMSA Comercio has reached an agreement with Chilean retailer SMU to acquire its OK Market store chain for $54.4 million.

OK Market is a leading small-format proximity store chain in Chile with more than 120 locations. In 2019, it recorded total sales of more than CLP $50,000 million ($62.7mn).

“In recent years, we have made great progress developing the value proposition and footprint of our OXXO proximity stores in Chile. The transaction announced today will allow us to improve the way we serve this key market and our Chilean customers,” says Daniel Rodríguez Cofre, FEMSA Comercio’s CEO.

Retailing giant FEMSA has various business including the convenience store chain OXXO and the fuel retailing unit OXXO GAS.

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