Mexican breadmaker Grupo Bimbo said on Thursday it has entered the African market with the purchase of Adghal, a Morocco-based producer of baked goods.
Financial details were not provided.
Adghal reported sales of some $11 million, three plants and specialized in pastries and cupcakes, Bimbo said in a statement.
Bimbo is one of the world’s biggest breadmakers, with operations in the United States, Canada, Latin America and China as well as the Iberian peninsula and Britain.
Bimbo’s food business chief said last week it planned to grow in China through acquisitions, expand in the rest of Asia, and enter Middle Eastern markets.
Source: Reuters
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The funds will be primarily allocated to boost business growth, integrate new technologies in the industry, expand manufacturing facilities, transform its portfolio and advance the sustainability agenda in Nestlé’s chocolate, coffee, pet care and nutrition segments in Brazil.
