Mondelēz International has entered into an agreement to acquire Ricolino, Grupo Bimbo’s confectionery business in Mexico, for approximately $1.3 billion. Ricolino 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.
Transforming Mondelēz International’s business in the high-priority Mexico market to accelerate growth and scale in core snacking categories, the acquisition will double the size of Mondelēz Mexico’s business and provide an entry point into the chocolate category, while expanding the company’s presence in snacking.
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The deal also provides significant opportunities for synergies and accelerated growth. Subject to customary closing conditions, the transaction is expected to close in late third- or early fourth-quarter of this year.
In January 2022, Mondelēz International acquired Chipita S.A., the leader in the Central and Eastern European snack-size cakes and pastries category. In 2021, the company acquired Grenade, a leading U.K. performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the premium biscuit and cracker category; and Hu, a well-being snacking company in the U.S.
“This acquisition will provide a step change for our business in Mexico, an important growth market for us, more than tripling our routes to market and growing our position in core snacking categories,” says Dirk Van de Put, chairman and CEO of Mondelēz International. “We are thrilled to welcome Ricolino’s talented people and amazing brands into the Mondelēz International family.”