BIMBO to Enter African Market

MEXICO CITY — Grupo Bimbo S.A.B. de C.V. is set to enter Africa by the end of 2016, according to El Universal, one of the largest newspapers in Mexico.

Gabino Gomez, executive vice-president of Grupo Bimbo, told participants at an event at Anáhuac University on April 13 that the Mexico City-based baking company sees potential in emerging markets, and Africa fits the bill, according to El Universal. Africa would become the twenty-third market and fourth continent in which Grupo Bimbo has operations.

“I can confirm (to) you that as a leader in the baking industry, Grupo Bimbo is always looking for new opportunities that could arise in any market,” Karina Fogel, a spokesperson for Grupo Bimbo, said in an emailed statement to Milling & Baking News. Ms. Fogel would not confirm that Grupo Bimbo plans to enter Africa or that it plans to do so by the end of this year.

Grupo Bimbo began exporting to the United States in 1984, and in 1994 it entered the United States with the purchase of La Hacienda, a California-based tortilla company. Bimbo Bakeries USA then entered the U.S. bread market in 1997 with the acquisition of Pacific Pride Bakeries of San Diego. The company in 2006 acquired Panrico in Beijing, initiating its presence in the Asian market.

Source: Food Business News