MEXICO CITY — Enumerating corporate highlights of 2021, Grupo Bimbo SAB de CV said it had completed six acquisitions during the year.
Perhaps the largest area of expansion for the company last year was in India, where Grupo Bimbo made two acquisitions. The first, was Modern Foods, the market leader in South India. The second was Kitty Bread, the second largest baking company in northern India.
Modern Foods operates seven baking plants, and Bimbo said in February 2021 the acquisition was an important step toward the company’s “long-term strategy to grow in India.”
Later in the year Bimbo disclosed its acquisition of Kitty Bread. The company produces a wide range of bread varieties, including white, brown, whole wheat and fruit bread, as well as other products.
In the United States, Bimbo made two acquisitions in 2021, though the target companies were in specialty product spaces rather than conventional baked foods.
In July, Bimbo said it had acquired Emmy’s Organics based in Ithaca, NY. Emmy’s is a leading producer of ultra-premium organic cookies and a major player in gluten-free cookies.
“This acquisition gives Grupo Bimbo an entry point into the quickly growing better-for-you cookie and sweet baked goods market,” the company said.
Moving into another area of snacking, Bimbo in November said it had acquired Popcornopolis, one of the fastest growing popcorn brands. Based in Vernon, Calif., in the Los Angeles area, Popcornopolis offers popcorn in a wide variety of flavors and formats.
In a move in South America, Grupo Bimbo in November said it had acquired the Brazil business of Aryzta SA. Aryzta do Brazil makes products that include bread, buns, cakes, croissants, pies, muffins, cookies, brownies, cinnamon rolls, cheesecakes and quiches. Bimbo said the acquisitions provides strong positioning in the quick-service restaurant business.
At the start of the year, Bimbo said it had acquired a plant from Cerealto Siro Foods in Medina del Campo, Spain. Bimbo described the facility, located northwest of Madrid, as a state-of-the-art plant dedicated to producing sweet goods for Mercadona, a supermarket chain based in Tavernes Blanques, north of Valencia in eastern Spain. Bimbo said the transaction allows it to enter the sweet baked goods private label market in Spain. In October 2019, Bimbo acquired a plant in Paterna, Spain, also from Cerealto Siro Foods. The Paterna plant is located on the outskirts of Valencia.
