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The 5 most relevant Grupo Bimbo events in 2Q21

The following are the five most relevant events of Grupo Bimbo in the second quarter of 2021, according to a ranking of the company itself.

Before describing these events, it is pertinent to note that Grupo Bimbo is the largest bakery company in the world and a relevant player in snacks.

Resumen financiero de la empresa

Grupo Bimbo 

  • First, Grupo Bimbo acquired Emmy’s Organics in the United States, the leader in ultra-premium organic cookies and a relevant player in the gluten-free cookie category. This acquisition is Grupo Bimbo’s entry into the rapidly growing healthy sweet baked goods and cookies market.
  • Bimbo was recognized in the “Brand Footprint Ranking 2021”, by Kantar, as the most chosen brand by households in Mexico and Latin America, and as one of the most chosen globally.
  • In addition, the company completed the acquisition of the Cerealto Siro Foods plant in Medina del Campo, Spain. This state-of-the-art plant is dedicated to the manufacture of sweet bread for Mercadona and other clients and allows it to enter the private label sweet bread market in Spain.
  • Now operations in Chile and Panama operate with 100% renewable electricity. With this, 90% of the electricity Bimbo consumes comes from renewable sources, using 2017 as a base, and more than half of the organizations use 100% renewable electricity.
  • Grupo Bimbo issued 600 million dollars in international bonds at 4.00% maturing in 2051, through Bimbo Bakeries USA, Inc.
  • BBU used the resources obtained for corporate purposes in general, including the transfer to Grupo Bimbo for the subsequent payment of the existing debt of its committed revolving credit facility with a value of 2,000 million dollars.

A global company

“Our solid diversification and penetration in developed markets contributed greatly to attracting the interest of nearly 180 investors and reaching a 6.5 times over-demand, reaffirming our global profile within the food industry and our commitment to expand the investor base,” said Diego Gaxiola, global director of Administration and Finance.

“This transaction has a neutral effect on Grupo Bimbo’s debt and reinforces our commitment to optimize our capital structure and maintain a solid balance sheet and a conservative debt profile,” he added.

 

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