Mondelēz International acquires Grupo Bimbo business for $1.3 billion
Mondelēz International has entered into an agreement with Grupo Bimbo to acquire its confectionery business, Ricolino, for approximately US$1.3 billion. Ricolino is a growing business with a leading confectionery position in Mexico. The acquisition will transform Mondelēz International’s business in the high-priority Mexico market to accelerate growth and scale in core snacking categories.
With approximately US$500 million in annual revenue, Ricolino employs close to 6,000 people, has four manufacturing facilities and distributes its products to several channels, including traditional trade, supermarkets, convenience stores and others. Its iconic brands Ricolino®, Vero®, La Corona® and Coronado® are leaders in lollipops, marshmallows, chocolates, gummies and other confectionery products.
The acquisition will double the size of Mondelēz Mexico’s business and provide an attractive entry point into the chocolate category, while expanding the company’s presence in snacking. It also provides significant opportunities for synergies and accelerated growth. For Grupo Bimbo, the leading baking company in the world, this transaction will enable focus on its grain-based baking and snacks businesses.
“This acquisition will provide a step change for our business in Mexico, an important growth market for us, more than tripling our routes to market and growing our position in core snacking categories,” said Dirk Van de Put, Chairman and CEO of Mondelēz International.
The acquisition of Ricolino will build on Mondelēz International’s continued prioritisation of fast-growing snacking segments in key geographies. In January 2022, Mondelēz International closed on its acquisition of Chipita S.A., the leader in the Central and Eastern European snack-size cakes and pastries category. This followed a year of growth in 2021 supported by the acquisition of Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the United States.
