Grupo Bimbo sells Ricolino for 27,000 million dollars
By Elenne Castro
May 2, 2022
Grupo Bimbo will sell its Ricolino confectionery brand to Mondelēz International for an amount of 27,000 million pesos .
This decision will allow the food company to focus on the grain-based food business, as well as its bakery and snack industries. While for the multinational, it will help double the size of its business in Mexico, expanding its presence in the confectionery segment and an entry point to the chocolate category in the country.
It should be noted that in 2021, Ricolino accumulated sales of 10,147 million pesos , equivalent to 500 million dollars.
Dirk Van De Put, president and CEO of Mondelēz International, stated that this operation will provide a strong boost for the brand's business in Mexico , a region that stands out for having continuous growth, by tripling the routes to the market and increasing its position in the snack category.
Mondelēz International owns brands such as Breakfast Belvita, Cadbury, Halls, Milka, Oreo, Philadelphia Original, Tang, Toblerone and Trident.
Oriol Bonaclocha, president of Mondelēz Mexico, declared that this year the company celebrates 95 years in the country, and this new acquisition will allow them to complete the business to offer consumers a broad portfolio.
Ricolino employs just over 6,000 employees, has four production plants and distributes its products through its sales centers to various channels, including wholesale, traditional, supermarkets, convenience stores, among others.
Currently, the confectionery brand is sold in Mexico, nationwide, and also exports to 17 countries, including the United States and Central America. The products with the greatest presence are: Paleta Payaso , Bubulubu, Lunetas, Kranky, Duvalín, in addition to the entire gummies segment.