Mexican bakery group Bimbo revealed earlier this week (7 May) that it has purchased a majority stake in Brazilian baker Nutrella Alimentos.

In a statement to the Mexican stock exchange, the world's third largest bread maker said it has bought a 75% stake in Nutrella.

The financial details of the deal were not disclosed.

In 2007, Nutrella posted sales of BRL150m (US$89m).

Bimbo was unavailable for comment as just-food went to press.