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.
Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.
German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.