Bimbo to Scoop up SL’s Iberian Brands

Bimbo to Scoop up SL’s Iberian Brands

Mexico Europe M&A

Mexican breadmaker Bimbo has agreed to buy Sara Lee’s fresh bakery business in Spain and Portugal for EUR115m – an amount that will be financed through cash on hand and existing credit lines. Apart from the fresh bakery brands in Spain and Portugal, the purchase also includes seven manufacturing facilities. The business generated net sales of $408m in fiscal 2011 and employs some 2,000 people. The seller has recently under taken a restructuring aimed to improve labor costs and its supp

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