Credit: Manuel Esteban / Shutterstock.com

Mexico-based snacks and bakery giant Grupo Bimbo has closed its confectionery business in Uruguay, cutting 62 jobs.

Grupo Bimbo’s Uruguayan division said in a statement it wished to “focus on its baking and snacking categories.” Local reports suggest this will mean axing its Ricard chocolate brand.

Related Company Profiles

View all

It added that the cuts were “part of Grupo Bimbo’s global strategy to consolidate its leadership in grain-based foods and focus on the baking and snack industries”.

The bakery group, which entered the Uruguay market in 2006 with the acquisition of baked-goods brand Los Sorchantes, could stop producing Ricard chocolate from the end of the month, reports suggest.

Grupo Bimbo’s presence in Uruguay encompasses ten brands including biscuit and bakery brands Tia Rosa and Maestro Cubano.

See Also:

Just Drinks has approached Grupo Bimbo for further information about the future of its confectionery business in Uruguay.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Affected employees have reportedly been informed of the decision and local reports suggest the National Organisation of Workers of Dulce, Branches and Related (Onodra) is representing them.

The news of Grupo Bimbo’s confectionery business closing in Uruguay comes after the group has made several recent acquisitions in the bakery and snacks sectors. Earlier this month, US-based Natural Bakery was snapped up while in January, Grupo Bimbo went after Vel Pitar in Romania. UK-headquartered St Pierre Groupe was bought last October.

Grupo Bimbo’s Latin America division returned 9.63bn pesos in net sales ($546.8m) in the opening quarter of 2023, marking an 8.6% year-on-year rise.

The Mexican major’s adjusted EBITDA for the three months to 31 March showed a 35.7% year-on-year spike, reaching 11.037bn pesos