Mexico-based baking company Grupo Bimbo has agreed to acquire Ecuador bread producer Supan, as part of its strategy to further strengthen its presence in the Americas.
The transaction involves number of brands such as the Supan, Bimbo, Grile, Braun, Dulzones, Rey-pan and Pansol in the packaged bread, buns and sweet baked goods segments.
The acquisition represents Grupo Bimbo's foray into the Ecuadorian market.
Supan has around 900 employees and two production plants located in Guayaquil and Quito.
The acquired business is expected to generate sales of over $57m and adjusted earnings before interest, taxes, depreciation and amortization of $6m.
Grupo Bimbo produces more than 10,000 products and offers a portfolio with more than 100 umbrella brands, that include: Bimbo, Marinela, Barcel, Ricolino, Oroweat, Arnold, Mrs. Baird's Thomas', Brownberry, Entenmann's, Pullman, Plus Vita, Nutrella, Sara Lee, Fargo, Lactal, Silueta, Ortiz, Martínez, and Eagle.
The comapny said that its 150 plants are distributed around the world. Of the total plants, 41 are located in Mexico and 69 in the US. During 2012, three new plants were opened, and in the first months of 2013, the company acquired the plant at Las Canarias in Spain.
