German food manufacturer Dr. Oetker has announced that it is to acquire Mexican-based baking aids and syrup maker Grupo Rexal.
“We are delighted to be able to strengthen our market presence in Mexico by taking over a successful family business,” commented on the acquisition Richard Oetker, Dr. Oetker CEO. “Grupo Rexal’s products ideally complement our portfolio and, particularly in the field of baking, fit both our strategy and our core competency”.
Grupo Rexal is a family company founded in Monterrey in 1930 and among other products makes baking soda, chicken stock, syrups and honey.
Dr. Oetker produces and distributes products in 40 countries in Europe, Africa, Asia, North and South America and Australia. In 2015 Dr. Oetker entered in the Mexican market with the acquisition of the dessert manufacturer D’Gari.
Financial terms of the agreement were not disclosed.
Source: Dr. Oetker