Bimbo adds 9 acquisitions in post-Covid-19
Grupo Bimbo, the world’s largest bakery company and a relevant player in snacks, accumulates nine acquisitions in the post-Covid-19 period.
To begin with, on September 17, 2021, through one of its subsidiaries, the company acquired 100% of the shares of Popcornopolis, LLC.
Popcornopolis operates in the United States and is dedicated to the production, distribution and sale of popcorn under the Popcornopolis brand.
Bimbo’s own resources were used to complete this transaction.
Before, on June 1, 2021, Bimbo concluded the acquisition, through one of its subsidiaries, of 100% of the shares of Siro Medina, S.A.U. in Spain, a company dedicated to the production of confectionery and pastry products. On June 24, 2021, the company name was changed to Dulces del Campo, S.A.U.
Also in the United States, on May 11, 2021, the company acquired through one of its subsidiaries, the organic cookies business of the Emmy’s Organics brand.
In India, on February 17, 2021, the company concluded the acquisition, through one of its subsidiaries, of 100% of the shares of Modern Enterprises Privated Limited, dedicated to the manufacture of bread under the “Modern” brand.
Enterprises Privated Limited has an extensive portfolio of white and fruity bread, healthy breads, buns and pavés, tart, sponge cake and Indian bread along with a few other products. For this purchase, own resources were used.
Acquisitions in 2020
On June 30, 2020, the company completed the acquisition, through one of its subsidiaries, of 100% of the shares of Siro Paterna Valencia in Spain, dedicated to the production of white-label box bread and salty pastries.
Likewise, on May 22, 2020, Bimbo incorporated the company Bimbo QSR Kazakhstan LLP, in which the subsidiary Bimbo QSR B.V. It participates with 51% of the shareholding, holding control, and will operate as the exclusive supplier of buns for a chain of fast food restaurants in Kazakhstan.
Another of its acquisitions was in the United States, where on January 2, 2020, the company acquired the Lender’s brand frozen bagel business from Conagra Brands.
Acquisitions of non-controlling interests
On May 13, 2020, through one of its subsidiaries, Bimbo acquired 35% of the shares of Ready Roti India Private Limited, in addition to the acquisition carried out in May 2017, thus obtaining 100% of the shares representing the capital of said company.
To conclude, on September 21, 2020, the company acquired 47.56% of the capital stock of Bimbonet Servicios, S.A.P.I. de C.V. formerly Blue Label México, S.A.P.I. de C.V., thus increasing its stake to 95.12% and obtaining control of said company as of this date.
In December 2020, the company acquired the remaining 4.88% to increase its stake to 100%. Bimbonet decides mainly to distribute digital services and electronic payments.
