FDBusiness.com

Mexico-based Grupo Bimbo, which is one of the largest baking companies in the world, is strengthening its Spanish business, Bimbo Iberia, by exercising its buy-back option on the Aguimes plant, located in the Las Palmas Province in Gran Canaria, owned by Grupo Sirio. In 2009, Sara Lee, which was then the Bimbo brand owner in Spain, sold the plant to Grupo Sirio but with a buy-back option that has now been executed by Grupo Bimbo, the current owner of the brand.

The acquisition of the strategically located Aguimes production plant will allow Grupo Bimbo to enhance its leadership position in the baking sector in Spain and increase its production capacity in the Iberian Peninsula.

After the deal, which has already been formally approved by the Fair Trade Service of Spain, Bimbo Iberia will have eight production plants and 57 distribution centers in the Iberian Peninsula, and employ about 700 people. The plants are located in Albergaria (Portugal), Palma de Mallorca, Solares (Cantabria), Azuqueca de Henares (Guadalajara), Madrid, Granollers (Barcelona), Vergel (Alicante) and Aguimes (Gran Canaria).