Deals
Mondelez to Buy Bimbo’s Ricolino Candy Business for $1.3 Billion
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Mondelez International Inc. agreed to buy Mexico’s leading confectionery company from Grupo Bimbo for about $1.3 billion.
The deal will double the size of Mondelez’s business in Mexico and offers an attractive opportunity to enter the chocolate market, the Chicago-based snack company said in a statement on Monday. The confectionery company, Ricolino, has about $500 million in annual revenue and almost 6,000 employees.