The chocolate and candy maker Mondelēz International announced this Tuesday that, after the approval of the economic competition regulator, the acquisition of Ricolino, the confectionery business of Grupo Bimbofor about 1,367 million dollars.
The purchase, with which the firm will double the size of its operation in the Latin American country, will be financed through a debt issue and available cash, Mondelēz announced in April.
“With this operation, the company (Mondelēz) is facing the possibility of having a better position in the snack and confectionery industry by offering its clients a portfolio of leading brands,” the US-Mexican firm said Tuesday in a statement.
Grupo Bimbo will use the resources from the operation for the debt payment e capital investments.
The new organization, formed by Mondelēz and Ricolino, will live under the identity of Mondeléz Snacking México. The closing of the acquisition does not include Ricolino’s business in Nicaragua and Honduras, which Bimbo has agreed to keep separate and not sell unless regulatory approval is granted in those countries.
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