Grupo Bimbo to acquire Brazilian bread company
May 08, 2008
by Eric Schroeder
MEXICO CITY — Grupo Bimbo, S.A.B. de C.V. has reached agreement to acquire a 75% stake in Nutrella Alimentos, S.A., a Brazilian bread company. Financial details were not disclosed.
Founded in 1972, Nutrella produces and sells packaged bread, buns and pastries through two production facilities in Sao Paulo and Rio Grande do Sul. Through such brands as Nutrella, Nhamy and Nutrellinhas, Nutrella is the market leader in the southern region of Brazil with 2007 sales of 150,300,000 Brazilian reals ($88,960,000) and an EBITDA of 21,000,000 Brazilian reals.
"This transaction aligns with Grupo Bimbo’s strategy to consolidate its operations in the countries where it participates and provides the company with a more solid position to continue developing a profitable business in Brazil, by complementing its current operations in that country," Grupo Bimbo said. "It also provides access to one of the regions with the greatest economic activity with over 25 million inhabitants."
The acquisition of Nutrella would come a little more than seven years after Grupo Bimbo entered Brazil with the March 2001 purchase of Plus Vita S.A. from Bunge Ltd. for $63,500,000.