Grupo Bimbo pursues growth through investment
The Mexican bakery giant Grupo Bimbo plans to invest US $200 million in a new distribution site in Mexico.
The facility will be equipped with cutting-edge logistics technology and will extend over a total surface area of 89,000 m2. It will also have a wind farm to supply almost all of its electric power needs.
The group, which posted revenues of US $13.5 billion in 2016, is also investing in acquisitions and recently took over the US-based food service supplier East Balt Bakeries. The operation is valued at US $650 million and is expected to be completed by the end of 2017.
With 21 production facilities across the United States, Europe, Asia, the Middle East and Africa, East Balt employs around 2,200 people and produces more than 13 million bakery products per day, mainly for the fast-food sector. In the fiscal year to June it generated revenues of around US $420 million.
