MEXICO CITY — Grupo Bimbo S.A.B. de C.V. has acquired Panettiere, a frozen baked foods business based in Bogota, Colombia.
The acquisition, which was completed toward the end of 2016, was announced Feb. 24 by Daniel Servitje, Bimbo chairman and chief executive officer. In a conference call held in connection with year end financial results, Mr. Servitje disclosed and briefly commented on the transaction. He said Panettiere would “enable us to participate in the in-store and food service bakery channels.”
Based in Colombia, the company was established in 2005 and specializes in par-baked and frozen baked foods products.
The company’s product line includes baguettes, flautas, ciabatta, hojaldre (puff pastry), croissant, blandito (soft bread), sandwich rolls, muffins and danish.Panettiere will be part of the Bimbo Latin American business. Bimbo already has a fresh baked foods business in Colombia. Sara Lee Artesano brand bread was introduced into the U.S. market after being developed and marketed initially in Colombia.