With Stipulations, Bimbo Okayed to Buy Sara Lee Bakeries
The U.S. Dept. of Justice on Oct. 21 approved Grupo Bimbo SAB de CV’s planned acquisition of Sara Lee Corp.’s North American Fresh Bakery business – with a few stipulations.
Grupo Bimbo and its Bimbo Bakeries USA (BBU), Horsham, Pa., must divest the Sara Lee and EarthGrains brands in California, the Holsum and Milano brands in central Pennsylvania, the EarthGrains and Mrs Baird’s brands in Kansas City, the EarthGrains and Healthy Choice brands in Omaha and the EarthGrains brand in Oklahoma City.
With that, the deal should close on Nov. 5.
“We will soon be able to begin the important work of creating the new BBU,” said Gary Prince, president of Bimbo Bakeries USA. This will cement BBU’s position as the largest U.S. bakery business, with bakeries in every region of the country. Over the next five years, BBU will invest more than $1 billion to promote growth by creating efficient manufacturing and delivery systems in every region. “We will build new bakeries where we need them, renew existing facilities and improve our technology and infrastructure,” said Prince. “Our investments will create manufacturing jobs in the U.S.”