Mondelēz Worldwide Agrees to Purchase Ricolino, Mexico's Main Confectionery Firm, from Grupo Bimbo | Mondelēz Worldwide, Inc. – Mondelez Worldwide
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CHICAGO, April 25, 2022 (GLOBE NEWSWIRE) — Mondelēz Worldwide (Nasdaq: MDLZ) at the moment introduced it has entered into an settlement with Grupo Bimbo to accumulate its confectionery enterprise, Ricolino, for roughly $1.3 billion USD. Ricolino is a rising enterprise with a number one confectionery place in Mexico. The acquisition will remodel Mondelēz Worldwide’s enterprise within the high-priority Mexico market to speed up development and scale in core snacking classes.
With roughly $500 million USD in annual income, Ricolino employs shut to six,000 associates, has 4 manufacturing services and distributes its merchandise to a number of channels, together with conventional commerce, supermarkets, comfort shops and others. Its iconic manufacturers Ricolino®, Vero®, La Corona® and Coronado® are leaders in lollipops, marshmallows, candies, gummies and different confectionery merchandise.
The acquisition will double the scale of Mondelēz Mexico’s enterprise and supply a beautiful entry level into the chocolate class, whereas increasing the corporate’s presence in snacking. It additionally supplies important alternatives for synergies and accelerated development. For Grupo Bimbo, the main baking firm on the earth, this transaction will allow deal with its grain-based baking and snacks companies.
“This acquisition will present a step change for our enterprise in Mexico, an necessary development marketplace for us, greater than tripling our routes to market and rising our place in core snacking classes,” stated Dirk Van de Put, Chairman and CEO of Mondelēz Worldwide. “We’re thrilled to welcome Ricolino’s gifted folks and wonderful manufacturers into the Mondelēz Worldwide household.”
Lots of Ricolino’s chocolate and sweet manufacturers have greater than 50 years’ historical past in Mexico. At this time, the corporate’s greater than 2,100 direct retailer supply routes attain 440,000 conventional commerce retailers, offering important scale and broad model availability.
“We ventured into the confectionery trade with the institution of Ricolino in 1970; at the moment, after 52 years of development and progress, it’s the trade chief in Mexico. We really acknowledge the Ricolino household for this wonderful accomplishment and are deeply grateful for his or her dedication and exhausting work. I’m assured that Mondelēz Worldwide will leverage these wonderful manufacturers to a a lot larger place,” stated Daniel Servitje, Chairman and CEO of Grupo Bimbo.
“I wish to take the chance to thank all of our associates for his or her dedication and dedication. They’ve given their finest and I really feel very happy with them,” stated Fernando Lerdo de Tejada S., President of Ricolino.
The acquisition of Ricolino will construct on Mondelēz Worldwide’s continued prioritization of fast-growing snacking segments in key geographies. In January 2022, Mondelēz Worldwide closed on its acquisition of Chipita S.A., the chief within the Central and Japanese European snack-size truffles and pastries class. This adopted a 12 months of development in 2021 supported by the acquisition of Grenade, a number one UK efficiency diet firm; Gourmand Meals Holdings, a number one Australian meals firm within the engaging premium biscuit and cracker class; and Hu, a well-being snacking firm in the USA.
The transaction, which is topic to customary closing circumstances, will likely be funded by an issuance of debt and money available and is anticipated to shut in late Q3 or early This fall 2022.
About Mondelēz Worldwide
Mondelēz Worldwide, Inc. (Nasdaq: MDLZ) empowers folks to snack proper in over 150 nations world wide. With 2021 web revenues of roughly $29 billion, Mondelēz Worldwide is main the way forward for snacking with iconic international and native manufacturers reminiscent of Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Bitter Patch Children sweet and Trident gum. Mondelēz Worldwide is a proud member of the Customary and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.
About Grupo Bimbo:
Grupo Bimbo is the chief and largest baking Firm on the earth and a related participant in snacks. Grupo Bimbo has 206 bakeries and crops and greater than 1,600 gross sales facilities strategically positioned in 33 nations all through the Americas, Europe, Asia and Africa. Its essential product strains embrace sliced bread, buns & rolls, pastries, truffles, cookies, toast, English muffins, bagels, tortillas & flatbreads, salty snacks and confectionery merchandise, amongst others. Grupo Bimbo produces over 10,000 merchandise and has one of many largest direct distribution networks on the earth, with greater than 3.1 million factors of sale, greater than 56,000 routes and over 139,000 associates. Its shares commerce on the Mexican Inventory Alternate (BMV) below the ticker image BIMBO, and within the over-the-counter market in the USA with a Stage 1 ADR, below the ticker image BMBOY.
Ahead-Trying Statements:
This press launch comprises forward-looking statements. Phrases, and variations of phrases, reminiscent of “will,” “might,” “anticipate” and related expressions are supposed to establish these forward-looking statements, together with, however not restricted to, statements about Mondelēz Worldwide’s technique and plans for development; the transaction, the anticipated outcomes of the transaction and the impression of the transaction on Mondelēz Worldwide’s enterprise; and the funding and shutting of the transaction. These forward-looking statements are topic to plenty of dangers and uncertainties, lots of that are past Mondelēz Worldwide’s management, which might trigger Mondelēz Worldwide’s precise outcomes to vary materially from these indicated in these forward-looking statements. Please additionally see Mondelēz Worldwide’s danger elements, as they might be amended once in a while, set forth in its filings with the U.S. Securities and Alternate Fee, together with its most not too long ago filed Annual Report on Kind 10-Okay. Mondelēz Worldwide disclaims and doesn’t undertake any obligation to replace or revise any forward-looking assertion on this press launch, besides as required by relevant regulation or regulation.
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