Mexican Economic Development Inc 's

Coca-Cola FEMSA operates in competitive markets across Mexico, Central America, and South America. In Mexico, its primary competitor is Grupo GEPP, S.A.P.I. de C.V., the exclusive bottler of Pepsi products and a subsidiary of Organización Cultiba, S.A.B. de C.V., a joint venture that includes Grupo Embotelladoras Unidas, S.A.B. de C.V. (a PepsiCo subsidiary) and Empresas Polar, S.A. In the juice segment, Grupo Jumex is a key competitor, while Bonafont, owned by Danone, competes in the bottled water category. Other competitors in sparkling and still beverages include Keurig Dr Pepper and local brands such as Embotelladora Aga de Mexico, S.A. de C.V., the bottler of Red Cola. In Central America, Coca-Cola FEMSA faces competition from Pepsi and Big Cola bottlers. In Guatemala, competitors include The Central American Bottler Corporation (CBC), which has a joint venture with AmBev, Cervecería Centroamericana S.A. (CCA), and AJE Group. In Nicaragua, AJE Group and the CBC-AmBev joint venture are principal competitors. In Costa Rica, Florida Bebidas S.A., a subsidiary of Florida Ice and Farm Co., and Cooperativa de Productores de Leche Dos Pinos R.L. compete in the juice market. In Panama, Cervecería Nacional, S.A. is the main competitor, followed by AJE Group and Petite Bottling Company, Inc. ("Unicola"). Additionally, Coca-Cola FEMSA competes with various B brands offering multiple serving sizes in Central America. In South America, Coca-Cola FEMSA’s primary competitor in Colombia is Postobón.