UK – Mexico City-based bakery giant Grupo Bimbo has strengthened its operations in the UK with the acquisition of UK-based bakery group St. Pierre Groupe.
St. Pierre Group owns Baker Street, Paul Hollywood and St. Pierre bakery brands and known for its premium line of brioche products ranging from sliced bread and pastries to sweet bread.
The UK bakery has a presence in global retail and wholesale markets with its three brands available in more than 35,000 stores worldwide in regions including the UK, US, Europe and the Middle East.
According to the Mexico City-based baking company, the acquisition of St. Pierre aligns with Grupo Bimbo’s strategy for growth through “positioning itself with premium brands and grain-based products.”
“St. Pierre Group is a company whose exceptional consumer focus and superior quality have made it the number one in taste and preference in the markets and categories in which it competes,” said Grupo Bimbo in a statement.
In the past year, Mexico-City-based Grupo Bimbo has been on an expansion drive to bolster its global presence.
Early in the year, Bimbo bought the bakery assets in Brazil from Swiss peer Aryzta. The company later acquired US cookies maker Emmy’s Organics and announced the procurement of US popcorn maker Popcornopolis.
Bimbo’s appetite for the Indian market saw it buy local bakery business Kitty Bread, eight months after snapping up another Indian baker Modern Foods.
Q3 sales jump 20%
The acquisitions are already having an impact on the bakery group’s bottom line with recently released third-quarter results revealing a 20% rise in the company’s sales to MXN102.8bn ($5.1bn).
Bimbo’s operating income rose 37.6% to MXN11bn ($553m), while adjusted EBITDA was up 15.2% at MXN14.5bn ($729m). Net income climbed 50.8% to MXN6.1bn ($306m)
Meanwhile, for the sixth consecutive year, Grupo Bimbo ranked first as the company with the Best Corporate Reputation in Mexico.
Daniel Servitje, Grupo Bimbo President and CEO was also named the leader with the best reputation in the country.
Bimbo also held the 2022 Bimbo Global Race, and thanks to more than 341 thousand participants, over 6.8 million slices of bread are being donated to food banks around the world.
The company is adding another 1,001 electric vehicles to its distribution fleet in Mexico, operating more than 2,300 vehicles with zero carbon emissions. Bimbo China is now operating with 100% renewable electricity.
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