Looking for a better carbonated alternative to the flat results at U.S. bottler Coca-Cola Enterprises (NYSE: CCE)? Just head south of the border.

Through its three subholding companies, Formento Economico Mexicano (NYSE: FMX), better known as FEMSA, delivered 10% in total revenue growth in its fourth quarter. With each segment posting double-digit operating-income growth, consolidated net profits rose by a bubbling 58%.

On the beer front, FEMSA's Cerveza unit improved real volume growth of 7.7% for the quarter. Raw-material costs are on the rise, particularly for grains, which have risen 30% in price year over year in Mexico, but operating efficiencies and a strong Brazilian currency have helped limit gross margin contraction to 40 basis points.

Following the trends we've seen from Anheuser-Busch's (NYSE: BUD) successful relationship with Grupo Modelo and its recent attempt to join forces with InBev, partly because of the increasing popularity of imported beer brands in the States, the segment has maintained its momentum despite a slowdown in the United States.

Meanwhile, profitability at FEMSA's bottling segment and largest subsidiary, Coca-Cola FEMSA (NYSE: KOF), added its share of delightful fizz, with 8.6% sales growth and an improvement in operating income of 12.6%. Volume growth clocked in at 6.7%, and average prices rose 1.3%.

In FEMSA's Oxxco convenience-store chain, comps rose 5%, with strong traffic growth offsetting a declining average ticket. Implementation of new pricing strategies, along with stronger sales in higher-margin categories, improved the gross profit by 20%. And by keeping expenses in check, operating margins expanded 130 basis points.

Refreshing double-digit earnings growth, washed down with a 0.98% dividend yield ... this is one company likely to add a pleasant flavor to your portfolio.

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Fool contributor Jason Ramage has no stake in any of the stocks mentioned here. The Fool's disclosure policy would like to teach the world to sing in perfect harmony.