Grupo Bimbo, the Mexico-based bakery conglomerate, has acquired the Ecuadorian bread company Supan, it has been announced. Terms of the deal were not released.
The move is part of a move to further strengthen Bimbo’s footprint in the Americas, the company said in a statement.
Supan operates in several categories in the bakery industry and produces goods including bread, rolls, and buns. The company has 900 employees across its two plants in Guayaquil and Quito. As part of the deal Bimbo will acquire brands including Supan, Grile, Braun, Dulzones, Rey-pan and Pansol, it said.
Bimbo further stated that the acquired business was expected to generate sales of over $57 million and adjusted EBITDA of $6 million.
Grupo Bimbo is one of the biggest bakery players in the world with 171 plants and over 1,600 distribution centres. It has more than 130,000 employees across 22 countries.
Source: Grupo Bimbo / America Economia