Mondelez International, an American multinational confectionery, completed the acquisition of Ricolino, a Mexican confectionery company, from Grupo Bimbo, a baking company, for $1.3bn. "This acquisition will provide a step change for our business in Mexico, an important growth market for us, more than tripling our routes to market and growing our position in core snacking categories. We are thrilled to welcome Ricolino’s talented people and amazing brands into the Mondelēz International family," Dirk Van de Put, Mondelez Chairman and CEO.