Expansion
On December 10, 2008, it was announced that Grupo Bimbo bought WFI (Weston Foods Inc.) a subsidiary of George Weston Ltd. for $2.38 billion, making Grupo Bimbo the largest bakery company in the USA and the only bakery in the USA with a national footprint. They now own brands such as Arnold, Boboli, Brownberry, Entenmann's, Freihofer's, Stroehmann, and Thomas', plus 22 factories and 4,000 delivery trucks.
On November 9, 2010, Sara Lee Corporation said that by selling its North American Fresh Bakery unit to Grupo Bimbo, it could grow in other areas. The $959 million deal gives Sara Lee the right to continue using the Sara Lee name on frozen desserts and meat products. Grupo Bimbo will use the Sara Lee name for fresh-baked products around the world except for Western Europe, Australia and New Zealand. The deal also means Grupo Bimbo gets 41 plants and the regional brands Grandma Sycamore's, Heiner's and Rainbo. Adding to its Horsham, Pennsylvania-based Bimbo Bakeries USA, Grupo Bimbo will significantly expand its coverage of the United States.
On October 10, 2011, Grupo Bimbo bought Sara Lee's operations in Spain and Portugal.
On November 19, 2012 Forbes Magazine reports Grupo Bimbo is considering buying the bankrupt bakery company Hostess Brands, Inc.
Read more about this topic: Grupo Bimbo
Famous quotes containing the word expansion:
“Artistic genius is an expansion of monkey imitativeness.”
—W. Winwood Reade (1838–1875)
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“Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation’s press and platform. Free speech does not live many hours after free industry and free commerce die.”
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