MEXICO CITY — Grupo Bimbo SAB de CV has been recognized by Time magazine as one of the “World’s Best Companies,” the first time the Mexico City-based baking company has made ranking, which is compiled by Time and market research provider Statista.

Grupo Bimbo is ranked 113 out of 750 companies analyzed and is the highest-ranked Mexican company on the list. It finished fourth in the world within the food and beverages category, behind The Coca-Cola Co., Nestle and Procter & Gamble.

The list considers three main factors: employee satisfaction, financial growth in income and sustainability achievements. Time and Statista then use a 100-point scale to evaluate to come up with a score for each company. Grupo Bimbo’s overall score was 87, with a sustainability rank of 291, employee satisfaction rank of 104 and a “high” growth rate.

“This recognition as one of the ‘World’s Best Companies’ reflects the work and passion of the more than 145,000 Grupo Bimbo associates,” said Daniel Servitje, chairman and chief executive officer of Grupo Bimbo. “Since our foundation more than 78 years ago, we have sought to be an agent of change that positively impacts the communities in which we operate, contributes to the care of our natural ecosystems, and offers the best, highest-quality products to all our consumers.”

The highest-ranked company in the report was Microsoft, with an overall score of 96.46, followed by Apple at 96.36 and Alphabet at 95.18.