Coca-Cola FEMSA a joint venture with The Coca Cola Company in 1991 with FEMSA initially owning 51% of the stock. It started expanding its international operations in 2003 when it acquired Panoramico, another Mexican Coca-Cola bottler with operations in Central America, Colombia, Venezuela, and Brazil. It later acquired additional bottling companies in Brazil (its second largest market) as well as the main Coca-Cola bottler in the Philippines in 2013. The company reported revenues of US$ 9.6 billion for 2015. On Coca-Cola FEMSA's 2011 venture into the coffee vending market: On Coca-Cola FEMSA's approach to human resource management, focusing on their operations in
Coca-Cola formula it. All were obtaining the Mexican product—which was not labeled in accordance with U.S. food labeling laws—outside the official Coca-Cola distribution network. In 2009, the Coca-Cola Company began officially importing Coca-Cola produced in Mexico, with proper labeling, for distribution through official channels. Coca-Cola inventor John Pemberton is said to have written this recipe in his diary shortly before his death in 1888. The recipe does not specify when or how the ingredients are mixed, nor the flavoring oil quantity units of measure (though it implies that the "Merchandise 7X" was mixed first). This was common in recipes at the time,