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Mexico-based multinational bakery firm Grupo Bimbo has reached an agreement to acquire its Brazilian peer Wickbold for an undisclosed sum.
This acquisition includes the Wickbold and Seven Boys brands, which offer packaged bread and sweet baked goods such as biscuits, bisnaguinhas (a brioche-style sweet bread), and panettones, along with four manufacturing facilities located in the south of Brazil.
Commenting on the move, Grupo Bimbo CEO Rafael Pamias said: “We will be excited to welcome the more than 2,500 associates of Wickbold to the Grupo Bimbo family. This family-owned business complements our brand portfolio with brands that consumers love and better positions our Company in the south region of Brazil”.
The acquisition is subject to regulatory approvals.
Source: Grupo Bimbo
