Grupo Bimbo sells its candy and chocolate division for $1.3 billion to Mondelēz The Mexican company announced that it will focus on its bakery and snack businesses.
By Entrepreneur Staff •
This article was translated from our Spanish edition.
Grupo Bimbo says goodbye to Ricolino . The world's largest Mexican bread producer today announced the sale of Ricolino, which for years was its candy and confectionery brand, for $27 billion pesos ($1.3 billion dollars) to Mondelēz International, Inc. The movement will allow the group to strengthen its leadership in the bakery and snacks sector.
In a statement issued by the company, Diego Gaxiola , director of global administration and finance, explained: "This transaction strengthens our financial profile, by generating value for Grupo Bimbo, while promoting the long-term focus on our key categories. We reaffirm our commitment and investment in Mexico, where this year we will be investing approximately $750 million dollars, a historic figure that confirms our confidence in the country".
Founded in 1970, Ricolino is one of the undisputed leaders in the candy and chocolate market in Mexico and Latin America. Among its most representative brands are the Panditas , the Bubulubu , the Payaso Paleta , the Krankys , the entire line of Vero palettes and the Coronado products . It is currently in 17 countries, including the United States and Central America, and complements the Mondelez International product line.
Oriol Bonaclocha , president of Mondelēz Mexico, explained: "2022 is a very important year for us as we celebrate 95 years in Mexico and today we reaffirm our commitment to the country by announcing this agreement. With the arrival of some of the most iconic and beloved candy and chocolate brands in the country, we will complement our business to offer our consumers a broad portfolio, backed by an important production and distribution chain nationwide. Likewise, we are very excited to welcome in the future a team of extremely talented collaborators, with a vision to win and grow, who share our values and love for Mexico."
The American Mondelēz International is one of the largest food companies in the world. With a presence in more than 150 countries around the world, it has emblematic maracas such as Oreo, Milka, Toblerone, Trident, Sour Patch Kids and Cadbury; Ricolino products will complement your offer.
In 2021 Ricolino generated net sales of $500 million.
