Grupo Bimbo acquires Chinese bakery Mankattan

Grupo Bimbo

has completed the acquisition of the Chinese bakery Grupo Mankattan , after having their usual conditions for this kind of operation met, including the necessary regulatory approvals.

The president of the board of directors of the Mexican company, Daniel Servitje , said that this operation is meant to strengthen Bimbo’s presence in the country and promote the growth of branded bakery products and the fast food channel in China.

"This market is of vital importance in terms of growth and an acquisition that drives our global profile," he said in a statement.

The Mexican multinational said that Mankattan has built a solid customer base in key markets, as well as a business that complements its product portfolio, manufacturing footprint and distribution network.

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