Grupo Bimbo Completes Mankattan Acquisition In China
Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) (BMV:BIMBO)today announced that it has completed the acquisition of Mankattan Group (“Mankattan”), a key playerin the baking industry in China, after satisfying customary closing conditions, including the receipt ofregulatory approvals.
“We are delighted to welcome Mankattan’s 1,900 associates to the Grupo Bimbo family. They have builta sizeable customer base in key urban markets and a business that complements and enhances ourcurrent product portfolio, distribution network and manufacturing facilities. Not only does the additionof Mankattan strengthen our presence in the country, it also provides us with a platform to grow themarket for branded, packaged baked goods as well as the foodservice channel in China. This is a vitalgrowth market for us and an acquisition that bolsters our global profile,” said Daniel Servitje, Chairmanand CEO of Grupo Bimbo.
