Bimbo Says Goodbye to Ricolino; Sells It to Mondelēz for 27 Billion Pesos

Grupo Bimbo has sold its confectionery business, Ricolino, to Mondelēz International for 27 billion pesos as part of its strategy to focus on its bakery and snack industries.

Photograph of the Ricolina company. Currently, Ricolino has more than 2100 direct delivery routes to stores. Photo: Grupo Bimbo.

04/25/2022

Bakery company Grupo Bimbo has signed an agreement to sell its confectionery business, Ricolino, to Mondelēz International for 27 billion pesos as part of its plan to become a stronger global leader in grain-based foods and focus on its bakery and snack industries.

According to CEO Daniel Servitje, Bimbo entered the confectionery industry with the founding of the company in 1970, becoming the industry leader in Mexico 52 years later.

"We deeply recognize the Ricolino family for this great achievement, and we are very grateful for their commitment and hard work. I have full confidence that Mondelēz will drive these excellent brands and accelerate their growth," he said.

Read the full article (in Spanish)

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