Mondelez: acquires Mexico's Ricolino Confectionery
(CercleFinance.com) - Mondelez International announced on Monday that it will acquire the confectionery business of bakery and pastry Grupo Bimbo for about 1.
3 billion dollars, in a move that will double its size in Mexico, a market that it considers a high priority.
With about 6,000 employees and four manufacturing sites, the scope in question - known as Ricolino - distributes lollipops, marshmallows, chocolates and candies under brands such as Vero, La Corona and Coronado.
The group has annual revenues of around 500 million dollars.
The acquisition is expected to be completed in the second half of the year.
Investors weren't really nibbling the biscuit early today though, with the share flat in pre-market trading.
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