Fomento Económico Mexicano, S.A.B. de C.V., doing business as FEMSA, is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico. It operates the largest independent Coca-Cola bottling group in the world and the largest convenience store chain in Mexico.

FEMSA reported revenues of US$26.9 billion for 2019, making it the fifth largest company of Mexico. It has operations in Latin America mainly through bottling plants, convenience stores, drugstores, fuel stations, and third-party logistic services, and in the United States, where it participates in the jan-san distribution industry. It is well known in Mexico for its convenience store chain Oxxo, it previously owned Cuauhtémoc Moctezuma Brewery (exchanged in 2010 for a 20% stake in Heineken N.V.), and for being the owner of C.F. Monterrey, a Liga MX football team.

FEMSA has been listed on the Mexican Stock Exchange since 1978 and on the NYSE through ADRs since 1998. It is a constituent of the IPC, the main benchmark index of the Mexican Stock Exchange, and of the S&P Latin America 40, which includes leading, blue chip companies from Latin America.

FEMSA originated from the Cervecería Cuauhtemoc brewery, which was established by Isaac Garza Garza in 1890. In 1909, Garza founded Vidriera Monterrey (now Vitro) to produce bottles for the Cuauhtémoc brewery.

The vertical strategic integration of Cervecería Cuauhtemoc began in 1936, with the establishment of Fábricas Monterrey, S.A. de C.V. for the production of bottle caps. Packaging operations expanded in 1957 with the production of labels and flexible packaging. During this period, FEMSA's operations were part of what became known as Grupo Monterrey (lit. the Monterrey Group), which also included interests in banking, steel, and other packaging operations.

In 1974, Grupo Monterrey was divided into two branches by the descendants of the founding families of Cervecería Cuauhtémoc. The steel and packaging operations gave rise to the creation of Corporación Siderúrgica S.A. (later consolidated into Grupo ALFA), which would be controlled by the Garza Sada family, and the beverage and banking operations led to the creation of FEMSA, whose control fell to the Garza Lagüera family. FEMSA was listed on the Mexican Stock Exchange on September 19, 1978.

In 1985, Cuauhtémoc merged with Moctezuma to form Cervecería Cuauhtémoc Moctezuma. FEMSA then undertook an extensive corporate and financial restructuring that was completed in December 1988.

In 1993, Coca-Cola purchased a 30 percent stake in FEMSA, creating the Coca-Cola FEMSA division.