Accelerates growth in core snacking categories in high-priority Mexico market
Mondelēz International has entered into an agreement with Grupo Bimbo to acquire its confectionery business, Ricolino, for approximately $1.3 billion.
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 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.