Grupo Bimbo acquires Karamolegos Bakery Romania in latest M&A deal
The announcement was made briefly in the company’s recent financial results statement, which did not provide specific details about the transaction.
ROMANIA – Grupo Bimbo has announced its acquisition of Karamolegos Bakery Romania for an undisclosed fee, marking the latest move by the acquisition-focused Mexican bakery group.
Last year, Grupo Bimbo reportedly enhanced its presence in Romania by purchasing six bakeries, although the managing director in Romania, Ionut Ilie, did not disclose additional details.
Grupo Bimbo first entered the Romanian market in early 2023 by agreeing to acquire the bakery business Vel Pitar, situated in Râmnicu Vâlcea, from the New York-based private equity fund NCH Capital.
Karamolegos Bakery Romania, located in Ilfov, Bucharest, supplies a variety of packaged breads to the retail sector. The company is a subsidiary of Karamolegos Bakery KB, which was established in Santorini, Greece, in 1950. The Romanian branch was launched in 2009.
In its first-quarter results released this week, Grupo Bimbo reported a net sales increase of 10.8%, totaling 103.73 billion pesos (approximately US$5.2B).
However, net income fell by 26.6% to 1.77 billion pesos (US$90M). Adjusted EBITDA rose by 8% to 12.82 billion pesos (US$654M), while operating income declined by 1.8% to 6.75 billion pesos (US$344M).
In North America, the company cited a challenging consumer environment, where it operates through Bimbo Bakeries USA.
Recent results from other large food manufacturers in the US have pointed to macroeconomic uncertainties due to tariffs, declining consumer confidence, and ongoing inflationary pressures.
In Europe, the Middle East, and Africa (EEA), where Grupo Bimbo reports results for Romania without specific breakdowns, sales increased by 22.3% to 12.05 billion pesos (US$615M).
Before the acquisition of Karamolegos Bakery Romania, Grupo Bimbo’s latest M&A transaction occurred late last year, when it purchased the Slovenian bakery business Don Don, which expanded its presence to 39 countries. The company also made an acquisition in Brazil in September for the bakery group Wickbold.
Earlier in the year, it bought Spain-based gluten-free bakery company Amarittamn and, in October, acquired Mile Hi Bakery in Colorado, USA. Additionally, during the summer, it took an undisclosed stake in the Netherlands-based bread startup Zero Carb Company.
Headquartered in Mexico, Grupo Bimbo is the world’s largest baking company, operating in over 35 countries with 223 bakeries and more than 1,500 sales centers.
The company is a major player in the snack industry, supported by an extensive direct distribution network of over 58,000 routes and 152,000 associates.
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