As Latin American firms become bigger, and as they are able to
access capital for ever larger transactions, their sway outside
the region is growing. Mexican baker Grupo Bimbo — the
world’s biggest bread producer — has been
a pioneer in terms of its diversification north of the Rio
Corporate with the best ex-regional strategy
Grupo Bimbo has set a precedent for other Latin American firms looking to expand outside the region
Thanks to various acquisitions, the US is now
Bimbo’s biggest market in terms of revenues.
Speaking in late May, chief financial officer Guillermo
Quiroz told LatinFinance the size of its developed market
operations would help the firm pay lower spreads on a planned
Eurobond compared to its last international debt market outing,
in 2012, when the US was not such a big proportion of the
"According to the talks we’ve had with bankers,
we’re no longer considered an emerging market
company," says Quiroz.
Grupo Bimbo’s character as more of a developed
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