Grupo Bimbo B de C : Mexico's Bimbo plans expansion in China, Asia, Middle East
April 20, 2017 at 01:31 am IST
Share
MEXICO CITY (Reuters) - Mexican breadmaker Grupo Bimbo plans to grow in China in the short term with acquisitions, while also expanding in the rest of Asia and entering Middle Eastern markets, the company's food business chief said on Wednesday.
Bimbo, which entered China in 2006 after buying the local assets of Spanish competitor Panrico, plans to expand in China through purchases of local companies, Bernardo Zermeno, the food business chief, told Reuters on the sidelines of an event in Mexico City.
"Bimbo will look for a consolidation that will allow for expansion," he said.
Bimbo shares were up 0.60 percent in late afternoon trading at 45.44 pesos (1.89 pounds).
(Reporting by Sheky Espejo; Editing by Leslie Adler)
Grupo Bimbo SAB de CV is a Mexico-based company engaged in the food processing sector. The Company focuses on the manufacture, distribution and sale of bread, breakfast bread muffins and bagels, frozen bread, cakes and smaller cakes, sweet and non-sweet cookies, tortillas, pita bread, pizza bread, tostadas and tortillas, snacks, salads and candies, among others. Its segments comprise Mexico; North America, including the United States and Canada; Organization Latinamerica (OLA), including Central and South America, and Europe. The Company operates in over 20 countries and has approximately 100 brands. The Company offers over 10,000 products under various brand names, such as Bimbo, Barcel, Sara Lee, Oroweat, Marinela, Arnold, Entenmann's, Ricolino, Dempster' and Thomas'. It operates through Groupe Adghal.