Grupo Bimbo announces an agreement to acquire Iberian company Panrico
The Mexican baker Grupo Bimbo announced a preliminary agreement to acquire Panrico in Spain and Portugal.
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The acquisition made by Grupo Bimbo includes 100 per cent of the shares, excluding the branded packaged bread category.
The transaction is conditional upon the result of due diligence, signing a final acquisition agreement, and the receipt of customary regulatory approvals.
The history of Panrico Donuts started in Spain in 1962, when Andres Costafreda founded Donut Corporation Espanola which produced and sold donuts in Spain.
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