The company will be present
in 19 countries worldwide; final sales will grow 27%
Grupo Bimbo renews its global vision as it expands its presence on both sides of the Atlantic.
The company will be present in 19 countries worldwide; final sales will grow 27%.
Grupo Bimbo formalized three operations that will point its integration into different areas on two continents, expanding the company’s global vision and consolidating its leadership in the world bakery industry.
During a press conference, Daniel Servitje Grupo Bimbo’s CEO, noted “all three commercial operations accomplish the Company’s development expectations and give us the opportunity to create value, meanwhile allowing us to enhance our experience we’ve acquired over 65 years.”
These 3 commercial operations were announced as follows:
1. On September 19th Argentine authorities granted Grupo Bimbo final authorization to complete the acquisition of Compañía de Alimentos Fargo, the main bread producer and distributor in the Republic of Argentina.
2. On October 10th, Grupo Bimbo signed an agreement with Sara Lee Corporation to acquire its bakery division in Spain and Portugal: Bimbo España, a leader in the packaged bread market on the Iberian Peninsula.
3. On October 21st, Grupo Bimbo announced that the Department of Justice of the United States granted it authorization to complete the acquisition of the Sara Lee bakery division in the US.
Guillermo Quiroz, Corporate Finance and Administration Director for Grupo Bimbo, informed that once all three operations are formalized, the Company will show important growths in its figures; i.e., as of now 154 production plants, 126,200 associates, 50,300 distribution routes, and presence in 19 countries on 3 continents. Thus, final sales for the Group will grow 27%, of which, 62% will come from international market sources.