Bakery giant Grupo Bimbo has announced it has signed an agreement to acquire Brazilian peer Wickbold.
Mexico-based Grupo Bimbo said that the deal includes the Wickbold and Seven Boys brands, which encompassed a range of packaged bread, sweet baked goods, cookies, bisnaguinhas, and panettones, as well as four manufacturing facilities located in the south of Brazil.
"We will be excited to welcome the more than 2,500 associates of Wickbold to the Grupo Bimbo family," commented Rafael Pamias, CEO of Grupo Bimbo. "This family-owned business complements our brand portfolio with brands that consumers love and better positions our Company in the south region of Brazil."
This transaction is still subject to regulatory approval, the company added.
Rafael Pamias
Pamias was appointed chief executive of Grupo Bimbo in May, with former CEO Daniel Servitje taking on the newly-created role of executive chair.
At the time, the group said that the move would help it 'improve its corporate governance and strategic supervision, while strengthening its structure to better face the complexity of the growth and expansion achieved over the past years, while ensuring the continuity of its philosophy and culture'.
Sustainability Progress
Elsewhere, Grupo Bimbo recently announced progress in its sustainability endeavours, with the announcement that 93% of its packaging globally is now made from recyclable materials.
By 2025, the company is aiming for 100% of its packaging to be recyclable, biodegradable, or compostable. In addition, 92% of its global electricity comes from renewable sources such as solar and wind.
With regard to its regenerative agriculture programme, Grupo Bimbo surpassed its 2023 harvest target using sustainable tillage methods, covering over 170,000 hectares of corn and wheat across Mexico, the United States, Canada, and France.
