Grupo Bimbo to acquire Brazil business of ARYZTA.

Grupo Bimbo, a Mexico-based company, which is engaged in the food industry, agreed to acquire Brazil business of ARYZTA, a firm that produces and retails specialty bakery products. Financial terms were not disclosed. “The sale of the Brazil business concludes our planned disposal programme. The disposals plan enabled ARYZTA to agree new lending facilities, pay deferred and current hybrid interest and improve the Group’s financial profile. Our focus now is to deliver sequential quarterly positive organic growth supported by positive volume and pricing. We are working with our customers on inflation price recovery and also focusing on further operational efficiencies to offset the inflation trends," Urs Jordi, ARYZTA Chairman and Interim CEO.