In 1988 Fomento Económico Mexicano, S.A. de C.V. was formed as the main subsidiary of Visa containing the beer and other companies. In 1994 FEMSA sold a 22 percent share of its beer business to John Labatt Ltd. of Canada and signed an agreement with Labatt to associate their respective companies in the United States. FEMSA became the successor of Visa in 1998. On 11 January 2010, the Dutch brewing company Heineken International announced it would acquire the beer activities of FEMSA, including Cuauhtémoc Moctezuma Brewery.