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Global Industry: Grupo Bimbo buys East Balt Bakeries

Hamburg. (bm) Grupo Bimbo announced an agreement to acquire East Balt Bakeries, a global leader within the foodservice industry, for a price of 650 million USD, cash and debt free. East Balt is a leading foodservice-focused company that produces and supplies buns, English muffins, rolls, tortillas, bagels, artisanal breads and other baked goods predominantly to Quick Service Restaurants around the world. Founded in 1955 and headquartered in Chicago (IL), East Balt employs about 2’200 associates globally and operates 21 bakeries in 11 countries across the United States, Europe, Asia, the Middle East and Africa. Other topics of the week: