GRUPO BIMBO: Grupo Bimbo Completes Mankattan Acquisition In China

Grupo Bimbo issued the following announcement on June 28.

Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) (BMV:BIMBO) today announced that it has completed the acquisition of Mankattan Group (“Mankattan”), a key player in the baking industry in China, after satisfying customary closing conditions, including the receipt of regulatory approvals.

“We are delighted to welcome Mankattan’s 1,900 associates to the Grupo Bimbo family. They have built a sizeable customer base in key urban markets and a business that complements and enhances our current product portfolio, distribution network and manufacturing facilities. Not only does the addition of Mankattan strengthen our presence in the country, it also provides us with a platform to grow the market for branded, packaged baked goods as well as the foodservice channel in China. This is a vital growth market for us and an acquisition that bolsters our global profile,” said Daniel Servitje, Chairman and CEO of Grupo Bimbo.

Original source can be found here.

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