Grupo Bimbo acquired East Balt Bakeries during the summer.

Bimbo expands reach in food service

During the summer Grupo Bimbo S.A.B. de C.V. acquired Chicago-based East Balt Bakeries from One Equity Partners for $650 million. The acquisition is expected to give Grupo Bimbo additional reach in the global food service segment.

Founded in 1955, East Balt produces and supplies buns, English muffins, rolls, tortillas, bagels, artisanal bread and other baked foods to quick-service restaurants around the world. The company employs approximately 2,200 and operates 21 bakeries in 11 countries across the United States, Europe, Asia, the Middle East and Africa. The company generated sales of approximately $420 million and EBITDA of $70 million in the most recent fiscal year.