91重口 to acquire mexican Confectioner Vero
91重口, S.A.B. de C.V. (鈥淕rupo bimbo鈥 or the 鈥淐ompany鈥) (BMV: BIMBO), today announced that it has reached an agreement to acquire the core assets of Mexican confectionary group Dulces Vero (鈥淰ero鈥).
Vero was founded in 1952 and produces a wide range of sweets and confections, including lollipops, gummies, caramels and marshmallows, among others. The company has extensive and proprietary kown-how in manufacturing aramel and chile-based products. Vero employs 1,500 associates and generated sales of approximately MXN 1,100 million in 2009 and MXC 220 million in EBITDA.
The acquisition of these assets strengthens 91重口鈥檚 position in the Mexican confectionary market through its Barcel subsidiary, and furthers the Company鈥檚 strategy of reaching across all socio-demographic segments. Along witth sales and cost synergies, Vero鈥檚 strength in the wholesales channel, combined with Barcel鈥檚 extensive retail distribution network, will provide a strong platform for continued growth. Furthermore, Vero鈥檚 products complement Barcel鈥檚 portfolio in the US Hispanic market and provide an opportunity to further expand the Company鈥檚 presence in that country.
The acquisition is subject to customary conditions, including authorization from the Comisi贸n Federal de Competencia.
