Monday, November 15, 2010

Bimbo buys Sara Lee bakery division!

I'm a little late posting this, but last week Bimbo, Mexico's largest food company, acquired the bakery unit of Sara Lee.  This is huge news.  Bimbo has been buying up smaller bakeries for awhile now, but the purchase of Sara Lee's bakery division makes Bimbo a force to reckon with globally. 

Some details of the deal:

  • Grupo Bimbo will pay Sara Lee $959 million USD for its bakery division
  • All of Sara Lee bakery units 13,000 employees will be transferred over to Bimbo and it is reported that no domestic employees will lose their jobs.
  • The deal includes 41 US plants and the rights to the Sara Lee brand in fresh baked goods globally, excluding Western Europe, Australia and New Zealand.
  • Bimbo's 2009 revenue was $8.6 billion USD
  • The deal is expected to finalize in the first part of 2011

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