Mexico: Grupo Bimbo acquires Panattiere and Stonemill Bakehouse

Grupo Bimbo, one of the world’s leading bakery firms, has reached an agreement to acquire Panattiere, a frozen bakery firm based in Colombia.

Established in 2015, Panattiere specializes in pre-baked and frozen baked products, including baguettes, ciabatta, puff pastry, croissant, soft bread, sandwich rolls and muffins.

Daniel Servitje, Grupo Bimbo chairman and chief executive officer, said the acquisition of Panettiere would "enable us to participate in the in-store and food service bakery channels".

Alongside Panattiere, Grupo Bimbo has also recently acquired the Canadian baker Stonemill Bakehouse through its Canada Bread division. Based in Toronto, Stonemill Bakehouse is described as "a leading producer of slow fermented craft breads baked in stone ovens using 100 per cent natural, non-GMO certified and organic ingredients".

Source: Baking Business