February 26, 2019 / 11:58 PM / 23 days ago

Mexico's top corner stores tap into Corona, Pacifico beer

MEXICO CITY (Reuters) - Mexican bottler and retailer Femsa said on Tuesday it will start selling popular national beers including Corona and Pacifico at its Oxxo stores, Mexico’s biggest convenience store chain.

Femsa’s agreement to bring in the brands, with Anheuser Busch Inbev subsidiary Grupo Modelo, will take effect in April for certain Mexican markets, Femsa, or Fomento Economico Mexicano, said in a statement.

The deal will cover Mexico City and Guadalajara, the country’s biggest cities, in 2019 and spread to stores nationwide by the end of 2022.

Oxxo, with more than 17,000 stores across Mexico, has sold Heineken brands exclusively since 2010, Femsa said.

Heineken said in a statement that it would continue selling its brands at Oxxo under a new agreement for five years.

Femsa did not disclose terms of its agreements with Grupo Modelo or Heineken, which are both set to be finalized in March.

Grupo Modelo produces 10 brews including Corona, Pacifico, Victoria and Modelo, some of Mexico’s most recognizable brands. It also imports Budweiser and Bud Light.

Oxxo generates about 35 percent of revenue at Femsa, which will report fourth-quarter results on Wednesday.

Reporting by Daina Beth Solomon; editing by Frank Jack Daniel and Diane Craft

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