Mondelez International, Inc. entered into an agreement to acquire Confectionery Business from Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A) for approximately $1.3 billion.

Mondelez International, Inc. (NasdaqGS:MDLZ) entered into an agreement to acquire Confectionery Business from Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A) for approximately $1.3 billion on April 25, 2022. Ricolino employs close to 6,000 associates. As on October 28, 2022, Grupo Bimbo has received approval from Mexico's federal antitrust body COFECE for the sale of Ricolino to Mondelez.

The transaction is subject to customary closing conditions, will be funded through an issuance of debt and cash on hand and is expected to close in late Q3 or early Q4 2022. Banco J.P. Morgan (Mexico), S.A acted as financial advisor to Mondelez International, Inc. (NasdaqGS:MDLZ). Juan Francisco Torres Landa and Mary Carmen Fuertes of Hogan Lovells US LLP acted as legal advisor to Hogan Lovells US LLP.