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Grupo Bimbo pauses business acquisitions

Grupo Bimbo made no business acquisitions in the first half of 2022, while in all of 2021 it made a total of six acquisitions.

In the past year, the company acquired Kitty Industries, Aryzta Do Brasil, Popcornopolis, Siro Medina (Dulces del Campo), Emmy’s Organics and Modern Foods.

In general, according to Grupo Bimbo, these acquisitions will contribute to the company’s growth and geographic expansion plans, mainly in India, the United States, Spain and Brazil, in terms of branded products and QSR (Quick Service Restaurants) businesses.

They also represent an opportunity to create significant synergies by optimizing the supply chain to better serve more consumers.

Grupo Bimbo

The difference between the consideration transferred and the net of assets acquired and liabilities assumed at fair value will be partially subject to amortization for tax purposes after meeting certain requirements, in accordance with local laws in the United States and Brazil.

Kitty Industries

Through one of its subsidiaries, the company acquired on October 26, 2021 100% of the shares of Kitty Industries Private Limited, a company that operates in India and is engaged in the manufacture, distribution and sale of white, whole wheat, wheat and fruit bread, among other products.

Aryzta Do Brasil

On October 13, 2021, through one of its subsidiaries, Grupo Bimbo acquired 100% of the shares of Aryzta Do Brasil Alimentos Ltda., a company engaged in the manufacture, distribution and sale of bakery and confectionery products, mainly aimed at the Quick Service Restaurants industry in Brazil.

Popcornopolis

On September 17, 2021, through one of its subsidiaries, the company acquired 100% of the shares of Popcornopolis, LLC, a company that operates in the United States and its main activity is the production, distribution and sale of popcorn under the Popcornopolis brand. The company used its own resources to complete this transaction.

Siro Medina (Dulces del Campo)

Through one of its subsidiaries, on June 1, 2021, the company completed the acquisition of 100% of the shares of Siro Medina, S.A.U. in Spain, a company engaged in the production of confectionery and bakery products. On June 24, 2021, the company’s name was changed to Dulces del Campo, S.A.U.

Emmy’s Organics

On May 11, 2021, Grupo Bimbo acquired, through one of its subsidiaries in the United States, the organic cookie business of the Emmy’s Organics brand.

Modern Foods

On February 17, 2021, the company concluded the acquisition, through one of its subsidiaries, of 100% of the shares of Modern Enterprises Private Limited in India. This company is engaged in bread making under the brand name “Modern” and has a wide portfolio of white and fruity bread, healthy breads, buns and pavés, cake, sponge and Indian bread along with some other products. In-house resources were used to complete this acquisition.

 

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