Grupo Bimbo posts strong Q2 results, sells AI-focused subsidiary to Mekitec

MEXICO – Mexican multinational baking company Grupo Bimbo has reported strong Q2 results where net sales grew 6.6% driven volume growth in multiple categories, mainly snacks, confectionery, buns and rolls, and pastries.  During the quarter ending June 30th, Grupo Bimbo generated record profits while boosting return on equity by 280 basis points.  Regionally, the company’s North American business remained resilient amid a pandemic and managed to deliver sales growth of 0.9% buoyed by a strong delivery of the group’s branded business led by sweet baked goods, buns and rolls, and snacks.  In Mexico, sales rose 14.7%, attributable…

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Grupo Bimbo to transition Canadian operations to 100% green energy

CANADA – Canadian operations of Mexican multinational food company Grupo Bimbo are set to transition to 100% green energy following the signing of two virtual power purchase agreements (VPPAs) with Renewable Energy Systems (RES). The two fifteen-year agreements were made through Grupo Bimbo’s wholly-owned subsidiary, Bimbo Canada, and will see the development of two wind and solar projects in southern Alberta, totalling 170 MW of installed capacity. Peter Clibbon, RES senior VP of development, said: “RES is proud that its Alberta wind and solar projects are helping Bimbo Canada meet…

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Grupo Bimbo expands presence in India’s baking industry with acquisition of Modern Foods

INDIA – Grupo Bimbo, a leading Mexican bakery, has bought Indian bread brand Modern Foods from EverFoods Asia, a bread and bakery platform of private equity firm Everstone Capital. Established in 1965, Modern Foods is an Indian manufacturer of white, sweet, health and wellness breads, as well as cakes, rusks, creme bites and muffins. The company operates seven manufacturing units across India, with its products sold through a distribution network covering over 80,000 retailers nationwide. The deal marks the third time that Modern Foods has changed ownership. Everfoods acquired Modern…

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Bakery company Grupo Bimbo set to acquire packaged foods platform Everfoods

MEXICO – Grupo Bimbo, a food and bakery company, is in preliminary discussions to acquire a majority stake in Everfoods, the packaged foods platform owned by private equity firm Everstone Capital, reports ET Retail. Once the deal materialises, the US$15-billion Grupo Bimbo will use this platform for a strong foothold in India as Modern Foods has a wide distribution network in the country. Modern Food’s bread and bakery products are manufactured and marketed nationally through a network of over 40 manufacturing plants and more than 80,000 outlets. With a revenue…

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Plant-based egg manufacturer Eat Just expands partnerships globally

USA – Eat Just, a San Fransisco-based foodtech company has announced several globe-spanning partnerships across North America, Latin America, Europe and East Asia to manufacture and distribute its mung bean-based egg, Just Egg. This expanded global infrastructure is expected to provide Eat Just with the scale needed to meet the increasing worldwide demand for the top-selling product. Included in the partnership are South Korea’s leading food company, SPC Samlip; one of Southeast Asia’s largest food companies and Bategro Group; one of the world’s largest bakery company. The plant-based food company…

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Grupo Bimbo forms joint venture with Food Town in Kazakhstan

MEXICO – Grupo Bimbo, through its subsidiary Bimbo QSR has formed a joint venture with Food Town, the exclusive buns supplier and franchisee of McDonald’s in Kazakhstan. Grupo Bimbo said that the joint venture, in which the Mexican company is the majority owner with a 51% of stake, strengthens the manufacturing footprint of Bimbo QSR and aligns its relationship with the quick service restaurants clients in Central Asia. The deal will broaden Grupo Bimbo’s global presence to 33 countries and strengthens its leadership in the QSR industry, which is expected…

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Grupo Bimbo announces commitment to use 100% of renewable energy by 2025

MEXICO – Grupo Bimbo, the largest baking company in the world, has announced its commitment to use 100 percent renewable energy for its electricity throughout the world by 2025. The company is the first company in Mexico and Latin America to join RE100, a global, collaborative initiative of The Climate Group, together with CDP. RE100 brings together the most influential companies in the world who commit to the use of electric energy from 100 percent renewable sources. According to the company, its is committed to supplying clean energy in the…

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Grupo Bimbo invests US$20.1m into new production lines in San Fernando plant

MEXICO – Grupo Bimbo, a Mexican multinational bakery product manufacturing company, has invested US$20.1 million in four new production lines in its San Fernando plant to allow expansion. According to the company, it will elaborate its handmade bakery products, adding to the production lines that already make white bread, integral, bran, and multi-cereal. In addition, from this incorporation of state-of-the-art technology, Grupo Bimbo in Argentina will have greater international certifications that will help increase productivity and thus reach more destinations. Currently, the company exports products from Argentina to Chile and,…

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Grupo Bimbo unveils ‘Bimbo Solar’ for sustainable energy

MEXICO – Grupo Bimbo has unveiled a new energy self-sufficiency system, ‘Bimbo Solar’ in its environmental commitment to ensure sustainable development for a better and safe world. Bimbo Solar adds to its power production grid, generating 3.7MW of energy thus reducing its annual carbon emissions by 2,500 tonnes of carbon dioxide. According to the company, this system was inaugurated at corporate building located in Mexico City and includes 308 solar panels that will supply 20% of the power used in the facility. The company, focusing on investments in technology and…

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