Delek US Holdings sold its retail operations for $385 million in October 2024, transferring 249 DK-branded convenience stores in New Mexico, Arkansas, and Texas to Mexican conglomerate FEMSA. The deal marks FEMSA's expansion into the U.S. market, where it operates the OXXO chain of 28,800 convenience stores across Latin America and owns the world's largest Coca-Cola products franchise bottler.

FEMSA, with over 392,000 employees across 18 countries, has begun rebranding DK stores as OXXO locations, particularly near the Mexican border. By 2027, all El Paso-area stores will operate under the OXXO banner. This acquisition follows FEMSA's 2022 purchase of European food retailer Valora and represents the company's strategic push into North American retail beyond its traditional Latin American footprint.

The fuel supply arrangement continues through Delek, which maintains hundreds of gas stations under DK and Alon brands. While this marks FEMSA's first major U.S. retail venture, the company has signaled ambitions to become a significant player in the American market. The deal highlights a growing trend of foreign ownership in U.S. convenience retail, following similar moves like Japanese company Seven & I Holdings' ownership of the Speedway chain.