Representatives of Broadhurst, a fund managed by New Century Holdings (NCH Capital), confirmed the transaction for Ziarul Financiar (ZF) daily at the beginning of January 2023.
With the acquisition of Vel Pitar, the company headquartered in Mexico is now present in 34 countries on four continents.
“We are particularly pleased to expand into a new market and integrate into our family a significant number of well-known brands in the bakery category, out of our desire to offer our consumers products made with nutritious ingredients and classic and natural recipes,” said Rafael Pamias, COO and Chief Sustainability Officer of Grupo Bimbo.
Vel Pitar joins the EMEA (Europe, Middle East and Africa) division headed by Jose Luis Saiz, who in turn reports to the group’s Chief Operating Officer.
“In Bimbo EMEA, we have a clear objective, that of expanding our global presence among the most recognizable, quality and valued brands in this region. As part of this division, Vel Pitar will join our desire to feed a better world, now and together with Romania,” added Jose Luis Saiz, President of Bimbo EMEA.
Grupo Bimbo, with a turnover of $17 billion in 2021, owns 214 production facilities and over 1,600 sales centers located in 34 countries on four continents: America, Europe, Asia and Africa. Its major product categories include sliced bread, shortbread, cookies, toast, muffins, bagels, tortillas & sticks, specialties, among others.
Grupo Bimbo manufactures more than 10,000 products and has one of the largest distribution networks in the world, with more than 3.3 million sales points, more than 55,000 sales routes and more than 141,000 employees.
The company is listed on the Mexican Stock Exchange BMV, under the stock symbol BIMBO, and on the over-the-counter market in the United States with level 1 ADR, under the stock symbol BIMBOY.