Grupo Bimbo B de C : completes Mankattan Acquisition in China
June 28, 2018 at 05:39 pm EDT
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GRUPO BIMBO COMPLETES MANKATTAN ACQUISITION IN CHINA
Mexico City, June 28, 2018 - Grupo Bimbo S.A.B. de C.V. ("Grupo Bimbo" or the "Company")
(BMV:BIMBO) today announced that it has completed the acquisition of Mankattan Group ("Mankattan"), a key player in the baking industry in China, after satisfying customary closing conditions, including the receipt of regulatory approvals.
"We are delighted to welcome Mankattan's 1,900 associates to the Grupo Bimbo family. They have built a sizeable customer base in key urban markets and a business that complements and enhances our current product portfolio, distribution network and manufacturing facilities. Not only does the addition of Mankattan strengthen our presence in the country, it also provides us with a platform to grow the market for branded, packaged baked goods as well as the foodservice channel in China. This is a vital growth market for us and an acquisition that bolsters our global profile," said Daniel Servitje, Chairman and CEO of Grupo Bimbo.
About Mankattan
Mankattan produces and supplies sliced bread, cakes, buns and Yudane (a Japanese-style sandwich bread), among other baked products to modern, traditional and QSR clients in China. Mankattan employs 1,900 associates and operates four plants that serve the thriving urban markets of Beijing, Shanghai, Sichuan, and Guangdong, along with their surrounding areas.
About Grupo Bimbo
Grupo Bimbo is the largest baking Company in the world and a relevant participant in snacks. Grupo Bimbo has 198 plants and more than 1,800 sales centers strategically located in 32 countries throughout the Americas, Europe, Asia and Africa. Its main product lines include fresh and frozen sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionery products, among others. Grupo Bimbo produces over 13,000 products and has one of the largest direct distribution networks in the world, with more than 3.0 million points of sale, around 59,000 routes and more than 139,000 associates. Its shares trade on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and in the over-the-counter market in the United States with a Level 1 ADR, under the ticker symbol BMBOY.
Investor Relationswww.grupobimbo.com
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Estefanía Poucel
María del Mar Velasco
estefania.poucel@grupobimbo.com
maria.velasco@grupobimbo.com
(5255) 5268 6830
(5255) 5268 6789
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Grupo Bimbo SAB de CV published this content on 28 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 June 2018 21:38:09 UTC
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. 
