Mexico City, January 30, 2006 - Grupo Bimbo S.A. de C.V. (“Grupo Bimbo” or “the Company”) (BMV: BIMBO) today announced the acquisition of Walter M. Doldán y Cía. S.A. and Los Sorchantes S.A, both of Uruguay. The transaction totaled US$7 million, of which US$5.5 million is for the purchase of 100% of the outstanding share capital and the remainder for
the payment of financial liabilities.
These companies produce and market baked goods, primarily through the Los Sorchantes and Kaiser brands. In 2005, combined sales totaled US$6.9 million, while EBITDA* was US$966 thousand.
With this transaction, Grupo Bimbo makes its first entry to the Uruguayan baking industry, and simultaneously positions itself as the market leader. In addition, the Company continues to execute its consolidation strategy in the region, fostering the growth potential represented by the low penetration of packaged bread in the industry as a whole.
* Earnings Before Interest, Taxes, Depreciation and Amortization
Company Description
Grupo Bimbo is one of the largest baking companies in the world in terms of production and sales volume. The market leader in the Americas, Grupo Bimbo has more than 70 plants and 900 distribution centers strategically located in 14 countries throughout the Americas and Europe. Its main product lines include sliced bread, buns, cookies, snack cakes, pre-packaged foods, tortillas, salted snacks and confectionery products, among others.
Grupo Bimbo produces over 4,500 products and has one of the most extensive direct distribution networks in the world, with more than 29,000 routes and 80,000 employees.
Grupo Bimbo’s shares have traded on the Mexican Stock Exchange since 1980 under the ticker symbol BIMBO.