Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Merger or Acquisition (November 2010)
12 slides from Grupo Bimbo Sab De Cv Class A's merger presentation, Nov 9, 2010
Slide 1: Sara Lee North American Fresh Bakery Acquisition
Sara Lee North American Fresh Bakery Acquisition November 9, 2010 0
Slide 2: Transaction Overview
Transaction Overview Grupo Bimbo acquires: North American Fresh Bakery Division of Sara Lee Corporation (“Sara Lee NAFB”) Royalty-free perpetual license to the Sara Lee® brand in fresh bakery category and select geographies Purchase price: enterprise value of US$959 million Identified synergies of U
Slide 3: Grupo Bimbo's Pro Forma Mix
Grupo Bimbo’s Pro Forma Mix Current Mix Pro Forma Mix LTM Q3 2010 Net Sales: US$9.1 billion LTM Q3 2010 Net Sales: US$11.1 billion LatAm LatAm +23% Growth 12% 10% Mexico Mexico 38% 47% U.S. 41% U.S. 52% LTM Q3 2010 EBITDA: US$1.3 billion LTM Q3 2010 EBITDA: US$1.4 billion LatAm LatAm +8% Growth 5% 5
Slide 4: While Generating Value To Shareholders, Transaction Maintains Grupo Bimbo's Strength And Flexibility
While Generating Value To Shareholders, Transaction Maintains Grupo Bimbo’s Strength And Flexibility Grupo Bimbo Leverage Ratio Evolution (a) Total Debt/EBITDA 3.3x 2.6x 2.3x 2.0x 1.5x 1.2x 1.1x 0.7x (b) 2004 2005 2006 2007 2008 PF 2009 2010E 2010 PF ____________________ a) Assuming the acquisition
Slide 5: Sara Lee Fresh Bakery: An Attractive Acquisition
Sara Lee Fresh Bakery: An Attractive Acquisition Advances BBU’s Strategic Objectives Scale: a leading U.S. baked-goods player Complementary Brand Portfolio Complementary Geographic Footprint Combination provides nationwide manufacturing and distribution Significant cross-selling opportunity given li
Slide 6: Bimbo Bakeries USA (BBU)
Bimbo Bakeries USA (BBU) Business Overview Brand Portfolio 34 Bakeries 8,500 routes 15,000 associates Net Revenues EBITDA (US$ in billions) (US$ in millions) EBITDA Margin $3.7 $3.8 $425 $436 $1.6 $47 2008 2009 LTM 2008 2009 LTM 2.9% 11.5% 11.6% 5
Slide 7: Sara Lee NAFB
Sara Lee NAFB Business Overview Brand Portfolio 41 Bakeries 4,700 Routes 13,200 employees Net Revenues EBITDA (US$ in billions) (US$ in millions) EBITDA Margin $2.1 $132 $2.1 $2.0 $122 $108 FY2009 FY2010 LTM FY2009 FY2010 LTM 5.7% 6.4% 5.3% ____________________ Figures include the additional busines
Slide 8: BBU / Sara Lee NAFB Combination
BBU / Sara Lee NAFB Combination Business Combination US$ Pro Forma LTM Net Revenues (US$ BN) $3.8bn $2.0bn $5.8bn LTM Adjusted EBITDA (US$ MM) $436 $108 $544 Margin (%) 11.6% 5.3% 9.4% Routes 8,500 4,700 13,200 Associates 15,000 13,200 28,200 7
Slide 9: Transaction Further Enhances BBU's Portfolio With Well-Recognized Brands
Transaction Further Enhances BBU’s Portfolio With Well-Recognized Brands Super Premium/ Variety Premium Sandwich/ White Regional/ Mass Specialty Ethnic Hispanic 8 8
Slide 10: Complementary Footprint Allowing For Value-Creation
Complementary Footprint Allowing For Value-Creation National Footprint Value Creation Opportunity Sales & Distribution - Depot and distribution optimization Manufacturing - Potential for plant restructuring Purchasing - Savings through scale Overhead Rationalization Sara Lee: 41 BBU: 34 9 9
Slide 11: Grupo Bimbo's And BBU's Focus Will Remain On Execution
Grupo Bimbo’s And BBU’s Focus Will Remain On Execution Orderly integration Technology systems to drive growth and productivity Volume growth Innovation - meet consumer demands Focus on Core products Fill in the white space Customer Alignment Investment to lower costs and drive efficiency across comb
Slide 12: Forward-looking statements
During this presentation, we have made statements about the Company’s future plans and prospects that constitute forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various factors and undue reliance should not be p