Press release
Mondelēz International Agrees to Acquire Ricolino, Mexico’s Leading Confectionery Company, from Grupo Bimbo
Accelerates MDLZ growth in core snacking categories in high-priority Mexico marketAcquiring iconic chocolate and candy brands including Ricolino, Vero, La
About this update from Mondelez International, Inc.
[{"type":"text","content":"Accelerates MDLZ growth in core snacking categories in high-priority Mexico marketAcquiring iconic chocolate and candy brands including Ricolino, Vero, La Corona and Coronado – strong strategic complements to MDLZ portfolioExpands route-to-market capabilities with more than 2,100 DSD routes, reaching 440,00 traditional trade outlets CHICAGO, April 25, 2022 (GLOBE NEWSWIRE) -- Mondelēz International (Nasdaq: MDLZ) today announced it has entered into an agreement with Grupo Bimbo to acquire its confectionery business, Ricolino, for approximately $1.3 billion USD. Ricolino is a growing business with a leading confectionery position in Mexico. The acquisition will transform Mondelēz International’s business in the high-priority Mexico market to accelerate growth and scale in core snacking categories. 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. Its iconic brands Ricolino®, Vero®, La Corona® and Coronado® are leaders in lollipops, marshmallows, chocolates, gummies and other confectionery products. The acquisition will double the size of Mondelēz Mexico’s business and provide an attractive entry point into the chocolate category, while expanding the company’s presence in snacking. It also provides significant opportunities for synergies and accelerated growth. For Grupo Bimbo, the leading baking company in the world, this transaction will enable focus on its grain-based baking and snacks businesses. “This acquisition will provide a step change for our business in Mexico, an important growth market for us, more than tripling our routes to market and growing our position in core snacking categories,” said Dirk Van de Put, Chairman and CEO of Mondelēz International. “We are thrilled to welcome Ricolino’s talented people and amazing brands into the Mondelēz International family.” Many of Ricolino’s chocolate and candy brands have more than 50 years’ history in Mexico. Today, the company’s more than 2,100 direct store delivery routes reach 440,000 traditional trade outlets, providing significant scale and broad brand availability. “We ventured into the confectionery industry with the establishment of Ricolino in 1970; today, after ...