Mondelēz International to Acquire Grupo Bimbo’s Mexico Confectionery Business, Ricolino

Meanwhile, Grupo Bimbo’s exit allows it to focus solely on grain-based baking and snacking. The company acquired Popcornopolis for its Barcel USA snack division in 2021, purchasing it from private equity firm NexPhase Capital — marking its entrance into the US popcorn category.

Daniel Servitje, chairman and CEO of Grupo Bimbo, said that he ventured into the confectionery industry in 1970 with the establishment of Ricolino. Fifty-two years later, the company recognizes the accomplishment and is “deeply grateful” for the Ricolino family’s commitment and hard work.

[Read more: Sifting Through Mountains of Data To Get Granular With Grupo Bimbo]

“I’m confident that Mondelēz International will leverage these amazing brands to a much higher position,” added Servitje.

Dirk Van de Put, chairman and CEO of Mondelēz International, stated the acquisition will provide a “step change for our business in Mexico, an important growth market for us.” Through the purchase, Van de Put said Mondelēz will be more than tripling its routes to market and growing its position in core snacking categories.

[More about Mondelēz: Preparing for a New Era of Consumer Data]

“We are thrilled to welcome Ricolino’s talented people and amazing brands into the Mondelēz International family,” Van de Put added.

The transaction is subject to customary closing conditions and will be funded through an issuance of debt and cash on hand. The deal is expected to close in mid to late 2022.

The latest acquisition follows Mondelēz’s strategy to grow its snacking segments in key geographies. In January 2022, Mondelēz International closed on its purchase of Chipita SA, a leading snacking company in the Central and Eastern European regions, and in 2021, the company acquired UK-based Grenade, a performance nutrition company, as well as Gourmet Food Holdings, an Australia-based food company, and Hu, a US-based well-being snacking company.

As the brand continues to grow its portfolio, it is taking a closer look at marketing innovation, placing a larger emphasis on social reach and customization tactics. According to Mondelēz researchmore than half of survey respondents (55%) said social media has inspired them to try a new snack in the past year, with Gen Z-ers at 70% and millennials at 71%.

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