Corporate with the best ex-regional strategy

Jul 1, 2014

Grupo Bimbo has set a precedent for other Latin American firms looking to expand outside the region

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 Bravo.

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 business.

"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 market than...

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