Grupo Bimbo, through its subsidiary Bimbo QSR, announced a joint venture with Food Town, the exclusive buns supplier and franchisee of McDonald’s in Kazakhstan.
This joint venture, in which Grupo Bimbo holds a 51% share, strengthens the manufacturing footprint of Bimbo QSR and aligns its relationship with the Quick Service Restaurants (“QSR”) clients in Central Asia.
This operation broadens Grupo Bimbo’s global presence to 33 countries and strengthens its leadership in the QSR industry, which is expected to have a compounded annual growth rate of 8.9% by 2023 in Asia.
“It is our priority to meet the needs of our QSR customers worldwide and we will continue to invest in our business to achieve it. This operation in Kazakhstan is well-positioned to meet the growing demand of our customers in the region,” said Mark Bendix, president of Bimbo QSR. This operation is expected to be completed during the first quarter of 2020.
The company’s biggest market is the United States followed by Mexico. The two North American countries account for 50% and 30% of total sales, respectively. Bimbo also has a presence in many Latin American nations as well as countries in Europe, Africa and Asia.