Mondelez International, Inc. completed the acquisition of Confectionery Business from Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A).
November 31, 2022
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Mondelez International, Inc. (NasdaqGS:MDLZ) entered into an agreement to acquire Confectionery Business from Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A) for approximately $1.3 billion on April 25, 2022. Ricolino employs close to 6,000 associates. As on October 28, 2022, Grupo Bimbo has received approval from Mexico's federal antitrust body COFECE for the sale of Ricolino to Mondelez. The transaction is subject to customary closing conditions, will be funded through an issuance of debt and cash on hand and is expected to close in late Q3 or early Q4 2022. Banco J.P. Morgan (Mexico), S.A acted as financial advisor to Mondelez International, Inc. (NasdaqGS:MDLZ). Juan Francisco Torres Landa and Mary Carmen Fuertes of Hogan Lovells US LLP acted as legal advisor to Hogan Lovells US LLP.
Mondelez International, Inc. (NasdaqGS:MDLZ) completed the acquisition of Confectionery Business from Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A) on November 1, 2022. Mondelez acquired $22 million of cash of Confectionery Business of Grupo Bimbo.
Mondelez International, Inc. is one of the world's leading food processing groups. Net sales break down by family of products as follows:
- cookies and snacks (48.9%): Barni, belVita, Chips Ahoy, Club Social, Enjoy Life Foods, Honey Maid, Kinh Do, LU, Oreo, Prince, Ritz, Tate's Bake Shop, Tiger, Triscuit, TUC, Wheat Thins, etc. brands;
- chocolates (29.5%): 5 Star, Alpen Gold, Cadbury, Cadbury Dairy Milk, Côte d'Or, Daim, Freia, Hu, Lacta, Marabou, Milka, Toblerone, etc. brands;
- chewing gums and candies (12.3%): Halls, Clorets, Maynards Bassett's, Sour Patch Kids, Stride, etc. brands;
- cheese and grocery products (6%);
- beverages (3.3%): juices, teas and powdered beverages (Tang brand) and malted beverages (Cadbury Bournvita).
At the end of 2023, the group had 148 manufacturing sites worldwide.
Net sales are distributed geographically as follows: the United States (26.6%), North America (4.2%), Europe (35.7%), Asia/Pacific/Middle East/Africa (19.6%) and Latin America (13.9%).