Grupo Bimbo Buys Brazilian Bakery Wickbold

Grupo Bimbo is strenghtening its position in Brazil with the acquisition of local bakery group Wickbold. As part of the deal, the Mexican bakery giant is picking up four more factories in southern Brazil. More than 2,500 staff work for Wickbold, which is based in Diadema in São Paulo state.

Financial terms were not disclosed. In a brief statement, Bimbo only provided an outline of the deal, which also includes the Wickbold and Seven Boys brands. Wickbold acquired Seven Boys in 2015.

Grupo Bimbo CEO Rafael Pamias said: “This family-owned business complements our brand portfolio with brands that consumers love and better positions our company in the south region of Brazil.”

Grupo Bimbo entered Brazil in 2001 with the acquisition of Plus Vita and Pullman, two brands it still sells in the country. In 2008, the company bought the Nutrella brand.