Sara Lee Completes Sale of Fresh Bakery Business in Spain and Portugal to Grupo Bimbo
December 07
15:07
2011
US-based food group Sara Lee has completed the Eur115 million sale of its fresh bakery business in Spain and Portugal to Mexico’s Grupo Bimbo. The agreement includes all Sara Lee fresh bakery brands inS pain and Portugal as well as seven manufacturing facilities. The deal is in line with Grupo Bimbo’s international expansion strategy and makes positions it as the leading branded bread company on the Iberian Peninsula.
The acquired business includes bread, pastries and snacks produced under the Bimbo, Silueta, Ortíz, Martinez and Eagle brands, among others. In fiscal 2011, the business generated net sales of $408 million (Eur360 million). It employs approximately 2,000 people.
