Grupo Bimbo today (22 June) confirmed it has struck an agreement to buy parts of Spanish bakery company Panrico.
Reports in Spain had suggested over the weekend and earlier today a deal had been reached, although neither company – nor Panrico's private-equity owner Oaktree Capital Management – had commented publicly.
Go deeper with GlobalData
In a statement to the Mexican stock exchange, Bimbo said it has signed a "preliminary agreement to acquire Panrico in Spain and Portugal".
Bimbo added: "This acquisition includes 100% of the shares, excluding the branded packaged bread
category."
The company said the deal remained subject to due diligence, a final agreement being completed and "customary regulatory approvals".
See Also:
Apart from packaged bread, Bimbo makes bakery snacks under brands including Bollycao, Donuts and Don.
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.
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
