Grupo Bimbo in the Midst of Three Acquisitions
Grupo Bimbo, the Mexican parent of Bimbo Bakeries USA, made three non-North American acquisitions in recent weeks.
In its third-quarter earnings call, for the period ending Sept. 30, company executives revealed an agreement to acquire Don Don, a Serbian baking company industry with presence also in Slovenia, Croatia and Montenegro, as well as exports to several countries. With this, Grupo Bimbo will expand its geographic presence to 39 countries, Bimbo said. The acquisition is subject to regulatory approvals.
Grupo Bimbo also has an agreement to acquire Wickbold, a player in the baking industry in Brazil. This transaction is still subject to regulatory approvals.
And Bimbo concluded the acquisition of Pagnifique in Uruguay, a provider of frozen bread products. Purchase figures for all the transactions were not provided.