Germany: Dr. Oetker to acquire Mexican baking manufacturer Grupo Rexal
German food manufacturer Dr. Oetker has announced that it is to acquire Mexican-based baking aids and syrup maker Grupo Rexal.
"We are delighted to be able to strengthen our market presence in Mexico by taking over a successful family business," commented on the acquisition Richard Oetker, CEO of Dr. August Oetker Foods KG., whom also added, "Grupo Rexal's products ideally complement our portfolio and, particularly in the field of baking, fit both our strategy and our core competency".
Grupo Rexal is a family company founded in Monterrey in 1930 and among others makes baking soda, chicken broth, syrups and honey.
Dr. Oetker operates production and distribution in 40 countries in Europe, Africa, Asia, North and South America and Australia. In 2015 Dr. Oetker entered in the Mexican market with the acquisition of the dessert manufacturer D’Gari.
Financial terms of the agreement were not disclosed.
Source: Dr. Oetker