Regional bakers approved to purchase Bimbo brands
May 4, 2012
by Josh Sosland
MEXICO CITY — Pan-O-Gold Baking Co., Minn., and Schmidt Baking Co., Baltimore, have been approved as buyers of brands to be divested Grupo Bimbo S.A.B. de C.V. as part of an agreement with the Department of Justice.
On May 3, Bimbo said it had received an okay to sell the Earthgrains and Healthy Choice brands in Omaha to Pan-O-Gold and to sell the Holsum and Milano brands in Harrisburg and Scranton, Pa., to Schmidt, a division of H&S Bakery, Inc., Baltimore.
The approvals were part of an agreement between the government and Bimbo in connection with the Mexico City baking company’s acquisition of the North American Fresh Bakery business of Sara Lee Corp. With approval to make the acquisitions, Bimbo predicted the transactions would close shortly. Additional assets, including plants and routes, to be sold by Bimbo in connection with the divested brands were not detailed in the announcement.
Bimbo still has several more brands to divest, including the Sara Lee and Earthgrains brands in California, Earthgrains and B.B.U.’s Mrs. Baird’s brand in the Kansas City area; and Sara Lee’s Earthgrains brand in the Oklahoma City area. Bimbo said these divestitures “are pending.”