Grupo Bimbo has acquired Alimentos Nutra Bien, a Chile-based cakes, cookies and brownies manufacturer.
Bimbo, the largest bakery company in the world, said the deal complements its current portfolio through “top-of-mind brands” and expands its distribution reach.
The announcement comes as Bimbo published strong full-year results: net sales were up 7.8% to MXN 288.27 billion ($15.06 billion) and operating income rose 5.9% to MXN 18.51 billion $967 million.
Bimbo highlighted the strong performance in both its Mexico and North America units.
Daniel Servitje, Grupo Bimbo CEO, said: “We closed the year with record-breaking levels of net sales, gross profit, operating income and adjusted EBITDA, positioning us as a stronger and leaner company that will continue to create value and serve our consumers.”
CFO Diego Gaxiola added: “The company’s solid financial position and robust results reflect top-line growth and the underlying strength of our businesses following a period of investments in restructuring.”
During 2018, Bimbo completed the acquisition of Chinese confectionery company Mankattan. The deal includes four production sites owned by Mankattan that serve consumers in the cities of Beijing, Shanghai, Sichuan, and Guangdong.
In September, Bimbo committed to using 100% renewable energy for its electricity throughout its global operations by 2025. The company became the first Latin American business to join RE100, an initiative comprising of large companies committed to the use of 100% renewable electricity.
By 2020, the firm aims to obtain all its electricity in the US from renewable sources as it partners with energy company Invenergy.
© FoodBev Media Ltd 2019