Grupo Bimbo boosts Brazil presence with Wickbold buy

[ad_1]

Grupo Bimbo is adding to its position in Brazil with the acquisition of local bakery group Wickbold.

As part of the deal, the Mexican bakery giant is picking up four more factories in southern Brazil.

More than 2,500 staff work for Wickbold, which is based in Diadema in São Paulo state. Wickbold’s origins date back to the 1930s when Henrique Wickbold bought a bakery in São Paulo.

Financial terms were not disclosed. In a brief statement, Bimbo only provided an outline of the deal, which also includes the Wickbold and Seven Boys brands. Wickbold acquired Seven Boys in 2015.

Grupo Bimbo CEO Rafael Pamias said: “This family-owned business complements our brand portfolio with brands that consumers love and better positions our company in the south region of Brazil.”

Reports in Brazil said Wickbold generated revenue of Rs1.6bn ($284.9m) in 2022.

Grupo Bimbo entered Brazil in 2001 with the acquisition of Plus Vita and Pullman, two brands it still sells in the country. In 2008, the company snapped up the Nutrella brand.

Three years ago, Grupo Bimbo struck a deal with Aryzta to buy its rival’s operations in Brazil.

The product range Grupo Bimbo offers in Brazil also includes Ana Maria, Rap10 and Crocantissimo

The group does not disclose revenues for specific markets. When the company reported its second-quarter results in July, it booked a 3.8% rise in sales – excluding the impact of exchange rates – from its operations in Latin America to 98.09bn pesos ($4.98bn). One of the factors Grupo Bimbo cited for the increase was a “strong performance” in Brazil.

The company’s total net sales inched up 0.5% to 45.37bn pesos.

"Grupo Bimbo boosts Brazil presence with Wickbold buy" was originally created and published by Just Food, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

[ad_1]

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66d59f09b85b4a6ebb642956eef29559&url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fgrupo-bimbo-boosts-brazil-presence-103725352.html&c=10065280124560208100&mkt=en-us Author : Publish date : 2024-09-01 23:37:00 Copyright for syndicated content belongs to the linked Source .

Grupo Bimbo boosts Brazil presence with Wickbold buy

Tropical Storm Ernesto expected to become a hurricane by Wednesday | Tracking the Tropics

Dalton open to keeping America’s Cup in Spain or returning home if New Zealand can win 3rd in a row

Dalton open to keeping America's Cup in Spain or returning home if New Zealand can win 3rd in a row

Transforming Lives: Free Medical Care for Over 1,400 Patients in St. Lucia!

Unlocking Potential: The Case for Prioritizing U.S. Mining

Arizona Soars: A Stellar Rise in ESPN FPI Rankings and AP Poll!

Saint Lucia in the Spotlight: What a Potential Travel Ban Could Mean for Caribbean CBI Nations

Arkansas Soybean Farmers Poised for Gains from China Deal, Yet Experts Warn of Potential Challenges Ahead

Unlocking Renewable Energy: St. Vincent & the Grenadines’ Innovative Closed-Loop Geothermal Project

California Takes a Stand: Gavin Newsom Launches New Portal to Tackle ICE Agent Misconduct

Exploring the Impact of the Landmark United States v. Carolene Products Co. Case

Choose Your Nation: GOP Senator Advocates for Ending Dual Citizenship!

Trump’s Bold Decision to Support Argentina Ignites Fury Among ‘America First’ Advocates

Categories

Archives