BMBOY - Mondel?z to acquire confectionary company Ricolino from Grupo Bimbo for $1.3B

Mondel?z (NASDAQ:MDLZ) entered into an agreement with Grupo Bimbo (OTCPK:BMBOY) to acquire its confectionery business, Ricolino, for ~$1.3B. Ricolino is a growing business with a strong confectionery position in Mexico and accounts for ~$500M in annual revenue with four manufacturing facilities. It has 2.1K+  direct store delivery routes reaching 440K traditional trade outlets, providing significant scale and broad brand availability. The acquisition will transform Mondel?z's business in the high-priority Mexico market to accelerate growth and scale in core snacking categories like chocolate category. For Grupo Bimbo, this transaction will enable focus on its grain-based baking and snacks businesses. Transaction, to be funded through issuance of debt and cash on hand and is expected to close in late Q3 or early Q4 2022.

For further details see:

Mondel?z to acquire confectionary company, Ricolino from Grupo Bimbo for $1.3B