Mexico City – Grupo Bimbo, S.A.B. de C.V. announced that, BBU, Inc., its business in the United States, has completed its US$31.9 million purchase of the Beefsteak brand, acquired as part of the Hostess Brands bankruptcy proceedings. The transaction was funded with cash holdings.
Beefsteak is one of the largest volume selling rye breads in the United States and has a strong, established presence in the Midwest and Mid-Atlantic regions, offering BBU a significant opportunity for national expansion.
About Grupo Bimbo
Grupo Bimbo is one of the largest baking companies in the world in terms of production and sales volume. As the market leader in the Americas, Grupo Bimbo has 154 plants and more than 1,600 distribution centers strategically located in 19 countries throughout the Americas, Europe and Asia. Its main product lines include sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionery products, among others. Grupo
Bimbo produces over 10,000 products and has one of the most extensive direct distribution networks in the world, with more than 51,000 routes and more than 126,000 employees. Grupo Bimbo's shares have traded on the Mexican Stock Exchange since 1980 under the ticker symbol BIMBO.
Source: Grupo Bimbo