Bimbo Consumes Sara Lee US

Bimbo Consumes Sara Lee US

Mexico M&A US

Grupo Bimbo will acquire the US bakery assets of Sara Lee for $959m. The deal price is less than the $1.1bn-$1.5bn bankers and analysts had forecast for the unit. However, it does not include Sara Lee’s Spanish or Australian assets, which several analysts had thought would be particularly attractive to Bimbo. Sara Lee owns the Bimbo brand in Spain, for example, which the original Bimbo founding family had sold years earlier and was eventually acquired by Sara Lee. The deal value implies an 8.9x

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