Grupo Bimbo finalises acquisition of Chinese company Mankattan

Grupo Bimbo, a Mexican multinational operating in the bakery sector, has finalised its acquisition of Mankattan, one of the leading Chinese players in the baking industry with around 2,000 employees and four plants serving Beijing, Shanghai, Sichuan and Guangdong.

Announced last February, the acquisition strengthens the Mexican group’s presence in China where it now has no fewer than ten production plants. The acquisition will also complement and strengthen the group’s current product portfolio and distribution platform (restaurants, traditional stores and QSRs).

According to the latest report from US market analysis firm IBISWorld, in 2018 the bakery sector in China is expected to grow by 4.7% with respect to 2017 and reach a value of $21.25 billion.

Grupo Bimbo operates with 198 production plants worldwide, including 43 in Europe, Asia and Africa.