Grupo Bimbo, the prominent Mexican bakery conglomerate, is significantly enhancing its presence in the Brazilian market through its latest acquisition of Wickbold, a local bakery group.
This strategic move enables Grupo Bimbo to expand its operational footprint by adding four additional factories located in southern Brazil. This acquisition aligns with the company’s ongoing growth strategy within the region.
Wickbold, founded in the 1930s by Henrique Wickbold, is headquartered in Diadema, São Paulo. Currently, the company employs over 2,500 dedicated staff members. The brand has a rich legacy and is a well-known name in the Brazilian bakery market.
While financial terms of the acquisition were not disclosed, Grupo Bimbo confirmed that the deal includes the Wickbold and Seven Boys brands. Notably, Wickbold expanded its portfolio by acquiring Seven Boys in 2015, further solidifying its market presence.
Commenting on the acquisition, Grupo Bimbo CEO Rafael Pamias stated, “This family-owned business complements our brand portfolio with brands that consumers love and better positions our company in the south region of Brazil.” His words reflect the company’s commitment to deepening its roots in local markets.
According to Brazilian reports, Wickbold achieved remarkable revenues of Rs1.6 billion ($284.9 million) in 2022, highlighting its significance within the domestic bakery industry.
Grupo Bimbo made its initial entry into the Brazilian market back in 2001, acquiring Plus Vita and Pullman, both of which continue to be key players in the country’s bakery segment. Additionally, in 2008, the company further expanded its portfolio with the strategic acquisition of the Nutrella brand.
Moreover, three years ago, Grupo Bimbo solidified its market position by completing a deal with ARYZTA, acquiring its operations in Brazil, showcasing its commitment to growth and market leadership.
The extensive product range offered by Grupo Bimbo in Brazil includes popular items such as Ana Maria, Rap10, and Crocantissimo, which further reinforces its strong foothold in the bakery market.
While the company does not often disclose specific revenue figures for individual markets, it reported a 3.8% increase in sales—excluding the effects of currency fluctuations—from its Latin American operations, totaling 98.09 billion pesos ($4.98 billion). A significant factor contributing to this increase was the “strong performance” attributable to their Brazilian operations.
Ultimately, the company’s net sales saw a modest rise of 0.5%, amounting to 45.37 billion pesos.
