Grupo Bimbo takes over Dulces Vero

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Latin American bakery giant Grupo Bimbo’s has acquired Mexican confectionery producer Dulces Vero, for an undisclosed sum.

Bimbo, which originated in Mexico and is now one of Latin America’s largest food companies, has shown determination to increasing its domestic market share. It made $1.1bn in Mexico in the first quarter of 2010 – a rise of 3.2% on last year, and half the company’s total net sales.

The company has completed a number of acquisitions in South America over the past three years including companies from Brazil, Argentina and Colombia – helping it to become one of the top five food companies globally.

Dulces Vero reported a turnover of $87m in 2009. It exports it lollipops and gummy sweets to over 20 countries worldwide and will folded into Grupo Bimbo’s its snack division, Barcel. Bimbo hopes the purchase will boost sales in the US Hispanic market.