Bimbo Becomes World's Largest Bread Maker With Sara Lee Buy - Further Expansion Expected

Mexican bakery firm Grupo Bimbo has announced it is to acquire Sara Lee's North American bakery business for US$925mn. The deal will make Bimbo the world's largest bread maker and also the largest producer of fresh bread in the US. The transaction will also mean that the US will move above Mexico to become the largest contributor to Bimbo's revenues. The move comes despite Bimbo's recent revenues growth having been hampered by its expansion into the US and highlights the appeal of developed market assets for emerging market-based firms, with the company likely to use its increased scale to pursue

To read the full article, please choose one of the following options: