Proceeds from the Mexican bakery Grupo Bimbo more than doubled in the first quarter compared with the same period last year. Grupo Bimbo, one of the largest producers of bread in the world, had a net profit of 907 million pesos (60 million dollars) between January and March 2015, which represents a 111% increase from 430 million pesos during the… Read more »
After encountering numerous difficulties in 2014 in its U.S. business, prospects for Grupo Bimbo S.A.B. de C.V. in the United States have improved considerably, said Daniel J. Servitje, president and chief executive officer. Speaking to investment analysts Feb. 27, Mr. Servitje was hopeful both because of external market conditions and because of steps the company has taken to better position… Read more »
While demand for gluten-free products is growing rapidly, the movement’s direct effects on the bread market to date have been limited, said Fred Penny, president of Bimbo Bakeries USA. The market for gluten-free products, a secondary share offering and the integration of the Canada Bread business were among topics discussed by executives of Grupo Bimbo S.A.B. de C.V., in addition… Read more »
Canada Bread Company, a subsidiary of Grupo Bimbo announced that it has completed the acquisition of the total shares outstanding of Saputo Bakery Inc. The Bakery will now operate under the company name of Vachon Bakery Incorporated.
Mexico’s Grupo Bimbo , one of the world’s largest bread makers, said on Tuesday it had agreed to buy Ecuadorian peer Supan, as it seeks to widen its presence in South America.
The Ontario Superior Court of Justice has issued a final order approving the previously announced plan of arrangement between a wholly-owned subsidiary of Grupo Bimbo and Canada Bread.
The arrangement will result in the sale of Canada Bread to Grupo Bimbo, which is expected to close in the second quarter of 2014, subject to completion of other closing conditions, including approval under the Investment Canada Act. The transaction has previously received shareholder approval and clearance under the Competition Act (Canada) and the Hart-Scott-Rodino Act (United States).
At a special shareholder meeting April 3, the acquisition of Canada Bread Co. by Grupo Bimbo S.A.B. de C.V. was approved by Canada Bread shareholders.
Grupo Bimbo spends US$1.665 billion on Canada Bread
Grupo Bimbo S.A.B. de C.V. announced that BBU Inc. , its business in the United States, has obtained approval from the U.S. Department of Justice (DOJ) to complete additional divestitures required by the DOJ in connection with BBU´s November 2011 acquisition of Sara Lee Corporation´s North American Fresh Bakery business (NAFB). The approved transaction includes perpetual, exclusive, and royalty-free licenses to the Sara Lee and Earthgrains brands for sliced breads, buns, and rolls in the state of California, and a perpetual and royalty free license to the Earthgrains brand in Oklahoma City, Oklahoma, both to Flowers Foods Inc. of Thomasville, Georgia.
Grupo Bimbo concluded today the largest and most important conversion to renewable energy sources done by a company in the food industry at a global level. Daniel Servitje, Grupo Bimbo CEO, started-up the operations of the Piedra Larga Wind Farm that will supply electric power to 45 facilities in Mexico, covering almost all of the company’s operations in the country.