Bimbo Iberia, a subsidiary of Grupo Bimbo has come to an agreement with Grupo Sirio to exercise the buy-back option for the Agüimes plant in the Canary Islands
Grupo Bimbo, the leading company in the baking sector worldwide, has decided to exercise the buy-back option on the Agüimes plant, located in the Las Palmas Province in Gran Canaria, which had been sold by Sara Lee to Grupo Sirio.
In 2009, Sara Lee ?back then, the Bimbo brand owner in Spain?sold to Grupo Sirio the aforementioned plant for which there was a buy-back option that has now been executed by Grupo Bimbo, the current owner of the brand.
The acquisition of this production plant, strategic for its geographical location, will allow Grupo Bimbo attain its objective of potentiating its leadership in the baking sector in Spain.
After the agreement, which has already been formally approved by the Fair Trade Service of Spain (Servicio de Defensa de la Competencia), Bimbo Iberia will have eight production plants and 57 distribution centers in the Iberian Peninsula, with an approximate headcount of 700 associates. The plants are located in Albergaria (Portugal), Palma de Mallorca, Solares (Cantabria), Azuqueca de Henares (Guadalajara), Madrid, Granollers (Barcelona), Vergel (Alicante) and Agüimes (Gran Canaria).
This transaction will enable Grupo Bimbo to increase its production capacity in the Iberian Peninsula, thus reinforcing its market leadership based on the quality, freshness, innovation and launching of new and improved products that meet the preferences and nutritional needs of its customers in all markets where it competes.
