Skip to content

All your bread belongs to us, bwahaaaaa!

24 January 2014

Canadians may control Mexican minerals, but they may soon be asking Mexicans, “give us this day our daily bread” :

Olivia Oran and Soyoung Kim, Reuters:

Grupo Bimbo (BIMBOA.MX), one of the world’s largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co Ltd (CBY.TO) from majority owner Maple Leaf Foods Inc (MFI.TO), according to people familiar with the matter.

[…]

A purchase of Canada Bread, one of two dominant bakery companies in the imagescountry, would build on Bimbo’s large U.S. acquisitions in recent years and strengthen the Mexican company’s position as the top bread maker in North America.

Bimbo has expanded its U.S. footprint in recent years, acquiring Sara Lee Corp’s North American bakery business for $959 million in 2010 and buying Hostess Brands Inc’s Beefsteak bread brand last year.

Advertisements
No comments yet

Leave a reply, but please stick to the topic

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s