Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo”), through its subsidiary Bimbo QSR, announced a joint venture with Food Town, the exclusive buns supplier and franchisee of McDonald’s in Kazakhstan.
This joint venture, in which Grupo Bimbo holds 51% of share, strengthens the manufacturing footprint of Bimbo QSR and aligns its relationship with the Quick Service Restaurants (“QSR”) clients in Central Asia.
This operation broadens Grupo Bimbo’s global presence to 33 countries and strengthens its leadership in the QSR industry, which is expected to have a compounded annual growth rate of 8.9% by 2023 in Asia.
“It is our priority to meet the needs of our QSR customers worldwide and we will continue to invest in our business to achieve it", said Mark Bendix, president of Bimbo QSR. "This operation in Kazakhstan is well positioned to meet the growing demand of our customers in the region”.
This operation is expected to be completed during the first quarter of 2020.