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GRUPO BIMBO TO ACQUIRE SARA LEES AND FRESH BAKERY BUSINESS IN SPAIN AND PORTUGAL

10 Oct 2011

The transaction includes,

the Bimbo, Silueta, Ortíz, Martinez and Eagle brands

Iberian Peninsula to be Company’s Fourth Largest Market

Mexico City, October 10th , 2011 – Grupo Bimbo, S.A.B. de C.V. ("Grupo Bimbo" or "the Company") (BMV: BIMBO) today announced an agreement to purchase Sara Lee Corporation’s (NYSE: SLE) fresh bakery business in Spain and Portugal for an enterprise value of €115 million.

This acquisition positions Grupo Bimbo as the leading branded bread company on the Iberian Peninsula and provides the Company with entry to the European market through an established bakery business.

The transaction includes, among others, the Bimbo, Silueta, Ortíz, Martinez and Eagle brands which enjoy broad name recognition and market leadership in the bread, pastries and snacks categories; as well as seven production facilities and more than 800 distribution routes. The business, which employs more than 1,900 associates, has recently initiated a restructuring process that significantly improves the competitiveness of its supply chain and labor cost structure.

The acquired business is expected to generate sales of over €290 million and adjusted EBITDA of €17 million, after giving effect to full run-rate savings associated with restructuring initiatives already undertaken by the seller.

Daniel Servitje added: “This acquisition underscores our international growth strategy and bolsters our vision of becoming a global leader in the baking industry. It will also give us the opportunity to unite the Bimbo brand on both sides of the Atlantic, along with the transfer of know-how between the two companies and commitment of our new Spanish and Portuguese associates.”

To fund the transaction, Grupo Bimbo will utilize cash on hand and financing available under existing credit facilities. The transaction has been approved by the Board of Directors of both companies and is expected to close, subject to regulatory approval, in the coming months.