Grupo Bimbo to Purchase Chinese Bakery Firm Mankattan

Mexico City-based baking industry giant Grupo Bimbo is expanding its presence in Asia with the planned acquisition of Chinese bakery firm Manhattan Group, a company press release announced Monday.

In operation for more than two decades, Mankattan produces sliced bread, cakes, buns, and other baked products to a wide range of end users at four manufacturing plants.

“This acquisition marks our commitment to grow in the world’s most populated country and the second largest global economy. Mankattan brings a sizeable amount of synergies to our operations in the north of China, as we will be able to optimize our supply chain to better serve more customers,” said Daniel Servitje, chairman and chief executive officer of Grupo Bimbo, in a statement.

Mankattan currently employs 1900 workers and serves clients in urban markets like Beijing, Shanghai, Sichuan, and Guangdong.

The Chinese firm’s “product portfolio and manufacturing capabilities enhance and complement our current operation exceptionally well, in terms of both our branded products and our QSR business. This acquisition will expand our geographical footprint from one market to four and enable us to significantly transform our profile in China,” said Servitje.

Closing of the sale is subject to regulatory approval and other closing conditions.

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