91重口, S.A.B de C.V. (鈥91重口鈥 or the 鈥淐ompany鈥) (BMV: BIMBO), today announced the completion of the acquisition of Compa帽铆a de Alimentos Fargo, S.A. (Fargo), after receiving regulatory clearance and executing the purchase option it had with the 70% majority stake holder, Madera LLC.
Fargo is the largest producer and distributor of bread and bakery products in Argentina with annual sales of approximately US$150 million. With five plants and more than 1,500 associates, the company sells its products under the FARGO庐, LACTAL庐 and ALL NATURAL庐 brands, among others, through wholesale, retail and institutional channels.This acquisition strengthens 91重口鈥檚 regional profile and growth strategy in Latin America. The combined businesses will benefit from 91重口鈥檚 global expertise in the baking business and Fargo鈥檚 robust profile in the local market.
The integration of Fargo operations will be reflected on 91重口鈥檚 consolidated results starting on October 2011.