Mondelēz to acquire confectionary company, Ricolino from Grupo Bimbo for $1.3B
Harald Schmidt/iStock Editorial via Getty Images


MondelÄz (NASDAQ:MDLZ) entered into an agreement with Grupo Bimbo (OTCPK:BMBOY) to acquire its confectionery business, Ricolino, for ~$1.3B.
Ricolino is a growing business with a strong confectionery position in Mexico and accounts for ~$500M in annual revenue with four manufacturing facilities.

It has 2.1K+ direct store delivery routes reaching 440K traditional trade outlets, providing significant scale and broad brand availability.
The acquisition will transform MondelÄz's business in the high-priority Mexico market to accelerate growth and scale in core snacking categories like chocolate category.
For Grupo Bimbo, this transaction will enable focus on its grain-based baking and snacks businesses.
Transaction, to be funded through issuance of debt and cash on hand and is expected to close in late Q3 or early Q4 2022.