MEXICO CITY — Acquisitions in Eastern Europe and South America have been announced by Grupo Bimbo SAB de CV. The three transactions were disclosed within the company’s third quarter financials, released Oct. 29.
Bimbo said it has signed an agreement to acquire Don Don, a baking company with a presence in Serbia, Slovenia, Croatia and Montenegro. Its products are exported to several countries. Still subject to regulatory approval, the transaction will expand Bimbo’s global presence to 39 countries. Don Don was established in 1994 and offers a range of baked foods, including sliced bread, rolls and pastries through its brands Tvojih 5 Minut and Pekarna Grosuplje.
During the quarter, Bimbo reached an agreement to acquire Wickbold, a baking company based in São Paulo, Brazil. The deal also awaits regulatory approval. The Wickbold transaction was first announced in September. At the time, Bimbo said the deal includes the Wickbold and Seven Boys brands, which are key brands in the Brazilian packaged bread, sweet baked goods, cookies, bisnaguinhas (soft bread rolls) and panettones markets.
Finally, Bimbo said it has completed an acquisition of Pagnifique in Uruguay. Pagnifique is a portfolio company of Linzor Capital Partners, a private equity firm. A baker of frozen bread and pastries, Pagnifique sells its products to supermarkets, restaurants, hotels and convenience stores. It operates production facilities in Montevideo, Uruguay, Miami and Mexico City. Linzor Capital Partners invests in mid-sized companies in Latin America. The firm has offices in Santiago, Chile; Mexico City; and Bogota, Colombia.
Terms of the transactions were not disclosed.
Bimbo has been active this year in the mergers and acquisitions market through bolt-on transactions rather than major deals. The company announcedfour smaller deals earlier this year, with baking acquisitions in Tunisia, Costa Rica, Romania and Turkey.