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This sale represents a 66% discount. In November 2011, Sara Lee Corporation completed the sale of its North American fresh bakery business to Grupo Bimbo for $709 million. [17] Sara Lee also sold its fresh-bakery businesses in Spain and Portugal to Grupo Bimbo for 115 million euros ($158.3 million), in a deal announced in October, 2011.
Grupo Bimbo, S.A.B. de C.V. (also known simply as Bimbo) is a Mexican multinational food company with a presence in over 33 countries located in the Americas, Europe, Asia and Africa. [1] It has an annual sales volume of 15 billion dollars [ 2 ] and is listed on the Mexican Stock Exchange with the ticker BIMBO.
Old HB, Inc., [ 2] known as Hostess Brands from 2009 to 2013 and established in 1930 as Interstate Bakeries Corporation, was a wholesale baker and distributor of bakery products in the United States. [ 3] Before its 2012 closure and liquidation, it owned the Hostess, Wonder Bread, Nature's Pride, Dolly Madison, Butternut Breads, and Drake's brands.
Sara Lee sells bakery to Grupo Bimbo. Sara Lee's sale of its North American Bakery business is now fully baked. The company announced today that it's selling the unit to Mexico's Grupo Bimbo for ...
Sara Lee reportedly is close to cutting a deal to sell its North American bakery business to Grupo Bimbo for a sticker price of $900 million to $1 billion, according to a Bloomberg report. That ...
Mexican breadmaker Grupo Bimbo's first-quarter net profit rose, boosted by strong sales, but higher raw material costs cut into its margins. Bimbo also said it was eyeing price increases to offset ...
Seven months later, A-B spun off its bread business as the stand-alone Earthgrains Corporation. In 2000, Earthgrains merged with the Sara Lee Corporation. In 2011, Sara Lee sold its bread business, including the trademark Sara Lee, to the worldwide Grupo Bimbo, which is based in Mexico City. [1] [3]
Grupo Bimbo acquired the Mexican rights to the brand and factories in 1986 when it purchased the Mexican subsidiary of Continental Baking Company. [26] In 2013, Grupo Bimbo lost in their bid to acquire Hostess bread brands, including Wonder Bread (U.S.), to Flowers Foods during the liquidation of Hostess Brands . [27] [28]
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