Bimbo sells its confectionery business to Mondelez for $1.329 million

Mexican bimbo groupone of the world’s largest bakeries announced this Monday it will sell its confectionery business, ricolinoto the business Mondelez International $1.329 million.

“Grupo Bimbo announced that it has signed an agreement to sell its confectionery business Ricolino to Mondelez International, Inc. 27,000 million pesos ($1.329 million)“, the company said in a statement.

The company that strategic decision It will allow Grupo Bimbo to become a stronger global leader in grain-based foods while focusing on the bakery and snack industries.”

For Mondelez, a world leader for his part, ‘snacksThis operation will “double its business in Mexico, expand its presence in the confectionery segment, and also provide an attractive entry point to the chocolate category in the country,” he added.

With net sales of approximately $500 million in 2021, Ricolino is the “leading player in the confectionery category in Mexico”, approx. 6,000 collaborators It has four facilities that distribute its products through various channels and brands through its sales centers.

Ricolino also 17 countriesIncluding the United States and Central America,” he said.

Grupo Bimbo provides resources from this process. debt payment, capital investments and other corporate purposes in general underlined the text.

Diego GaxiolaGrupo Bimbo Global Executive and Finance Director said, “This transaction creates value for Grupo Bimbo and strengthens our financial profile. (…) We reiterate our commitment and investment in Mexico, where we will invest approximately 750 million dollars this year.

In addition, Oriol BonaclochaThe president of Mondelez Mexico said, “2022 is a very relevant year for us since we celebrate. 95 years In Mexico, and by announcing this agreement today, we reaffirm our commitment to the country”.

This transaction is subject to relevant approvals, including regulatory approvals valid in Mexico, such as the Federal Economic Competition Commission (Coffee), among others, concluded the text.

Source: Informacion

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