Usually means: Mexican multinational beverage and retail company.
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We found 5 dictionaries that define the word femsa:

General (3 matching dictionaries)
  1. Femsa: Wordnik
  2. FEMSA: Dictionary.com
  3. FEMSA, Femsa: Wikipedia, the Free Encyclopedia

Miscellaneous (2 matching dictionaries)
  1. FEMSA, FEMSA: Acronym Finder

Definitions from Wikipedia (FEMSA)

noun:  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.

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