Grupo Bimbo Expands in China by Acquiring Mankattan Group

Grupo Bimbo has announced an agreement to acquire Mankattan Group,   a key player in the baking industry in China, which produces and supplies sliced bread, cakes, buns and Yudane (a Japanese-style sandwich bread), among other baked products. The company’s products supply  modern, traditional and QSR clients in China.

Mankattan employs 1,900 associates and operates four plants that serve the thriving urban markets of Beijing, Shanghai, Sichuan, and Guangdong, along with their surrounding areas.

“This acquisition marks our commitment to grow in the world’s most populated country and the second largest global economy. Mankattan brings a sizeable amount of synergies to our operations in the North of China, as we will be able to optimize our supply chain to better serve more consumers. In addition, the product portfolio and manufacturing capabilities enhance and complement our current operation exceptionally well, in terms of both our branded products and our QSR business. This acquisition will expand our geographical footprint from one market to four and enable us to significantly transform our profile in China”, said Daniel Servitje, chairman and CEO of Grupo Bimbo.

“We started our bakery investments in China more than 20 years ago and we are very pleased that, along with our leadership together with the experienced local management team, we successfully built Mankattan into the number two national wholesale bakery company in China”, said Ray Debbane CEO of Artal Group S.A. and of its investment advisor Invus. Additionally, Mr. Debbane commented: “We are very pleased that Grupo Bimbo will continue with Mankattan’s growth trajectory to continue to serve the Chinese market with high-quality baked goods”.