Bakery company Grupo Bimbo has announced a deal to acquire certain assets and brands property of Empresas Chocolates La Corona SA in an operation that will amount to 471m (US$43.4m) pesos
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La Corona has presence in the Mexican confectionery market, mainly in the chocolate segment. During the year 2004, these operations reached sales of approximately 670m pesos. It has three production facilities and leading brands in the market.
This acquisition is consistent with Grupo Bimbo´s strategy of consolidating its position in the sectors in which it is involved and strengthens its position in the Mexican chocolate market, the company said.
The acquisition transaction is subject to the approval of the Federal Trade Commission (Comisión Federal de Competencia) and it is expected to conclude during the third quarter of 2005.
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