German food group Dr Oetker is expanding its presence in the Mexican market, through the acquisition of baking company Grupo Rexal.
According to Dr Oetker, Rexal is a “leading manufacturer” of baking aids and syrup. Family-owned Rexal was founded in 1930. The company is located in the Mexican city of Monterrey and employs 115 people. Its key products include Rexal baking powder and ProMesa syrup.
Richard Oetker, Dr Oetker’s chairman, said: “We are delighted to have the opportunity to strengthen our market position in Mexico by acquiring a successful family company. Grupo Rexal’s products are an ideal addition to our portfolio and an especially good fit in the area of baking as well as with our strategy and core expertise.”
Dr Oetker entered Mexico when it acquired Mexican dessert and gelatin dessert producer D’Gari in 2015.
Financial details of the deal, which came into effect yesterday (1 June), were not disclosed.