Grupo Bimbo B de C V : reaches an agreement to acquire the frozen bread business of General Mills in Argentina
April 19, 2016 at 01:47 pm EDT
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April 19, 2016.-Grupo Bimbo announced today an agreement with General Mills for acquiring the frozen bread business in Argentina, a transaction that is subject to the approval of regulatory authorities.
Through this acquisition -that does not represent a material amount for the Company- Grupo Bimbo will continue consolidating its presence in the South American market, complementing its supply in the category of frozen bread that the Company is already manufacturing under the Bertrand brand. The portfolio includes products such as French baguettes and croissants.
Grupo Bimbo started operations in Argentina in 1995 and is leader of the bread industry in that country with five plants and a portfolio of products under emblematic local and global brands in the categories of bread loaves, buns, tortillas and sweet rolls, among others.
This transaction is expected to be formalized in May 2016.
Grupo Bimbo SAB de CV issued this content on 19 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 April 2016 17:46:06 UTC
Original Document: http://www.grupobimbo.com/en/press-room/press-releases/2016/april/grupo-bimbo-reaches-an-agreement-to-acquire-the-frozen-bread-business-of-general-mills.html
Grupo Bimbo SAB de CV is a Mexico-based company engaged in the food processing sector. The Company focuses on the manufacture, distribution and sale of bread, breakfast bread muffins and bagels, frozen bread, cakes and smaller cakes, sweet and non-sweet cookies, tortillas, pita bread, pizza bread, tostadas and tortillas, snacks, salads and candies, among others. Its segments comprise Mexico; North America, including the United States and Canada; Organization Latinamerica (OLA), including Central and South America, and Europe. The Company operates in over 20 countries and has approximately 100 brands. The Company offers over 10,000 products under various brand names, such as Bimbo, Barcel, Sara Lee, Oroweat, Marinela, Arnold, Entenmann's, Ricolino, Dempster' and Thomas'. It operates through Groupe Adghal.
GRUPO BIMBO, S.A.B. DE C.V. 
