Mexico’s Bimbo enters Africa market with Morocco acquisition

Mexican breadmaker Grupo Bimbo said on Thursday it has entered the African market with the purchase of Adghal, a Morocco-based producer of baked goods.

Financial details were not provided.

Adghal reported sales of some $11 million, three plants and specialized in pastries and cupcakes, Bimbo said in a statement.

Bimbo is one of the world’s biggest breadmakers, with operations in the United States, Canada, Latin America and China as well as the Iberian peninsula and Britain.

Bimbo’s food business chief said last week it planned to grow in China through acquisitions, expand in the rest of Asia, and enter Middle Eastern markets.

Source: Mexico’s Bimbo enters Africa market with Morocco acquisition | Reuters

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