- Mondelez International Inc (NASDAQ:MDLZ) has agreed to acquire Grupo Bimbo’s confectionery business, Ricolino, for $1.3 billion.
- The company expects the acquisition to double the size of its Mexico business and provide an attractive entry point into the chocolate category while expanding its presence in snacking.
- Ricolino’s annual revenue is about $500 million. It employs 6,000 associates and has four manufacturing facilities.
- Ricolino’s chocolate and candy brands, including Ricolino, Vero, La Corona, and Coronado, complement the MDLZ portfolio.
- The deal is expected to close in the late third quarter or early fourth quarter.
- Mondelez plans to fund the deal by issuing debt and cash on hand. It held $3.5 billion in cash and equivalents as of December 31, 2021.
- Price Action: MDLZ shares are trading higher by 0.17% at $65.17 on the last check Monday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Mondelez Agrees To Acquire Confectionery Company Ricolino For $1.3B
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks