Business and Operations
Mondelēz International to buy confectionery company Ricolino from Grupo Bimbo
April 26, 2022 By Bakers Journal
Chicago – Mondelēz International has entered into an agreement with Grupo Bimbo to acquire its confectionery business, Ricolino, for approximately $1.3 billion US.
Ricolino is a growing business with a leading confectionery position in Mexico, Mondelēz said in a news release.
With approximately $500 million USD in annual revenue, Ricolino employs close to 6,000 associates, has four manufacturing facilities and distributes its products to several channels, including traditional trade, supermarkets, convenience stores and others. It manufactures lollipops, marshmallows, chocolates, gummies and other confectionery products under such brands as Ricolino, Vero, La Corona and Coronado.
The acquisition will double the size of Mondelēz Mexico’s business. This transaction will enable focus on its grain-based baking and snacks businesses.
The transaction, which is subject to customary closing conditions, will be funded through an issuance of debt and cash on hand and is expected to close late in the third quarter or early fourth quarter 2022.
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