(Adds background on recent Femsa deals)
MEXICO CITY, Dec 1 (Reuters) - Mexico’s Femsa said on Monday it agreed to buy Farmacias Farmacon, a drugstore operator based in the country’s western state of Sinaloa, for an undisclosed sum.
Femsa, which operates the Oxxo chain of convenience stores and also has a joint venture with The Coca-Cola Co to bottle Coke through Coca-Cola Femsa, has been expanding into pharmacies and fast food over the last few years.
The company said in a brief statement that the acquisition of Farmacias Farmacon was “an important step as Femsa Comercio advances in its strategy to establish a relevant position in this attractive small-box retail segment.”
Farmacias Farmacon operates more than 200 stores in the western Mexican states of Sinaloa, Sonora, Baja California and Baja California Sur, Femsa said.
Last year Femsa bought 80 percent of fast-food chain Dona Tota and it acquired its first stake in a drugstore chain in 2012. (Reporting by Christine Murray and Elinor Comlay; Editing by Tom Brown)