Bimbo focusing on grain-based foods
MEXICO CITY — The decision to sell the company’s Ricolino confectionery business in Mexico reflects the centrality of grain-based foods in the business model of Grupo Bimbo SAB de CV, said Daniel Servitje, chairman and chief executive officer.
Mr. Servitje commented on the just-announced transaction April 27 during a call with investment analysts in connection with Bimbo’s first-quarter financial results. During the call he also addressed questions about the company’s merger and acquisition strategy, telling the analysts, “We play for the long haul.”
Mondelez International has agreed to acquire the Ricolino confectionery business from Bimbo for approximately $1.3 billion. Ricolino is based in Mexico City and makes candy bars, truffles, panned chocolates, caramel, lollipops, marshmallows, hard and chewy candies, nougats and gum.
“The strategic rationale behind this decision is that we are focusing on our core businesses…
