Language

 
  • Home
  • News
  • Press Releases
  • GRUPO BIMBO CONCLUDES FARGO ACQUISITION IN ARGENTINA

Share In:

GRUPO BIMBO CONCLUDES FARGO ACQUISITION IN ARGENTINA

Fargo is the largest producer and distributor

of bread and bakery products in Argentina

Mexico City / Buenos Aires, September 19th, 2011. – Grupo Bimbo, S.A.B de C.V. (“Grupo Bimbo” or the “Company”) (BMV: BIMBO), today announced the completion of the acquisition of Compañía de Alimentos Fargo, S.A. (Fargo), after receiving regulatory clearance and executing the purchase option it had with the 70% majority stake holder, Madera LLC.

Fargo is the largest producer and distributor of bread and bakery products in Argentina with annual sales of approximately US$150 million. With five plants and more than 1,500 associates, the company sells its products under the FARGO®, LACTAL® and ALL NATURAL® brands, among others, through wholesale, retail and institutional channels.This acquisition strengthens Grupo Bimbo’s regional profile and growth strategy in Latin America. The combined businesses will benefit from Grupo Bimbo’s global expertise in the baking business and Fargo’s robust profile in the local market.

The integration of Fargo operations will be reflected on Grupo Bimbo’s consolidated results starting on October 2011.