Mondelēz International is continuing to build its international portfolio with the acquisition of the confectionery business of Grupo Bimbo.
The purchase of Bimbo’s Ricolino business, for about $1.3 billion, will double the size of Mondelēz’s Mexican business. The deal includes four manufacturing facilities with about 6,000 employees.
Ricolino produces chocolate, gummies, lollipops and other confections. Several of its brands, which include Vero, La Corona and Coronado, are more than 50 years old.
The deal will expand Mondelēz’s business in Mexico while enabling Bimbo to concentrate on its core competency of grain-based foods.
“This acquisition will provide a step change for our business in Mexico, an important growth market for us, more than tripling our routes to market and growing our position in core snacking categories,” Mondelēz CEO Dirk Van de Put said in a statement. “We are thrilled to welcome Ricolino’s talented people and amazing brands into the Mondelēz International family.”
