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Grupo Bimbo Buys Columbian Frozen Bakery Company

March 1, 2017: 12:00 AM EST
The global frozen bakery market is a high-growth area, thanks to increasing demand for “thaw-and-serve” and “bake-off” products that deliver convenience to consumers, bakeries, supermarkets and quick-serve eateries. Analysts forecast the segment to top $21 billion within three years at a CAGR of 8.5 percent from 2015 to 2020. So it’s no mystery why Mexico’s baked goods giant Grupo Bimbo (Mexico City) just bought Panettiere, a Columbian frozen bakery company. In addition to its frozen products, the company Panattiere sells puff pastry, sandwich rolls, muffins and soft bread. The acquisition allows Bimbo to “participate in the in-store and food service bakery channels” in Latin America, the company said. [ Image credit: © Scoictho, Wikimedia  ]
Douglas Yu, "Bimbo Acquires Frozen Bakery Brand Panattiere", BakeryAndSnacks.com, March 01, 2017, © William Reed Business Media SAS
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