Grupo Bimbo

Grupo Bimbo, S.A.B. de C.V.
Subsidiary
Industry Food Processing
Founded December 2, 1945 (1945-12-02)
Founder
  • Lorenzo Servitje
  • Lorenzo Sendra
  • Jaime Jorba
  • Jaime Sendra
  • Alfonso Velasco
  • José T. Mata
Headquarters Mexico City, Mexico
Area served
 Worldwide
Key people
 Daniel Servitje
(Chairman and CEO)
Products
  • Bread
  • Cookies
  • Pastries
Brands
  • Bimbo
  • Marinela
  • Ricolino
  • Tia Rosa
  • Ideal
  • Barcel
  • Sara Lee
  • Mrs Baird's
  • Oroweat
  • +100 other brands
Revenue Increase US$ 14.1 billion (2014)
Decrease US$ 0.3 billion (2014)
Total assets Increase US$ 12.0 billion (2014)
Number of employees
 128,583
Divisions
Website www.grupobimbo.com

Grupo Bimbo, S.A.B. de C.V., known as Bimbo, is a Mexican multinational bakery product manufacturing company headquartered in Mexico City, Mexico. It is the world's largest baking company[1] and operates the largest bakeries in the United States, Mexico, Canada, Chile and Spain, and has some of the widest distribution networks in Mexico and the United States. It was also the ninth largest company of Mexico by revenues in 2013.[2]

Bimbo reported revenues of US$14.1 billion for 2014. It has more than 129,000 employees, 165 manufacturing plants[3] and 2.5 million sales centers [4] located in 22 countries in America, Europe and Asia. It operates more than 100 trademarks, among which are: Bimbo, Tia Rosa, Marinela, Wonder, Barcel, Sara Lee, Mrs Baird's and Oroweat. Bimbo has one of the widest distribution networks in the world, surpassing 52,000 routes[5] Bimbo operates under a scheme of recurrent sales channels views, making three daily visits to the same establishment.

In June 2015, Bimbo was considered as a possible buyer of Hostess Brands, the manufacturer of Twinkies valued at US$2 billion.[6] However, a month later Hostess Brands' owners cancelled its plans to sell the company after failing to receive any offers.[7]

Bimbo is listed on the Mexican Stock Exchange since 1980 and is a constituent of the IPC, the main benchmark index of Mexican stocks. In 2016, Forbes magazine ranked Grupo Bimbo at #986 on the Forbes Global 2000, an annual ranking of the top 2,000 public companies in the world.[8]

History

The company Grupo Bimbo was started in Mexico in 1945 by Lorenzo Servitje, Roberto Servitje, José T. Mata, Jaime Sendra, Jaime Jorba and Alfonso Velasco. Over fifteen years, under the leadership of Daniel Servitje, current Chairman of the Board and CEO of the Group, it has established itself as a global bakery company, reporting an increase in sales of USD 4.67 billion in 2004 to USD 10.712 billion, in 2011.

The name Bimbo was first coined in 1945. The main hypothesis is that it resulted from the combination of Bingo and Bambi. Later, the founders would know that children in Italian are called bimbo, while in Hungarian, the word means cocoon and, curiously, the phoneme used in China to name it, sounds very similar to bread.

The corporate mascot, a small polar bear, resulted from the drawing that came to Mr. Jaime Jorba in a Christmas card, and whom Anita Mata, wife of Jaime Sendra, dressed with a white apron and a chef’s hat, given a loaf of bread under his arm.

The Bimbo trademark was recognized as “famous” by the Mexican Institute of Industrial Property on April 23, 2010[9] and is one of the 27 selected brands that have reached this category in the country. In 2014, the Brand Footprint by Kantar World Panel positioned it in seventh place in the food industry in the world.

The first products launched into the market were cellophane-wrapped large and small white loaves of bread, rye bread and toasted bread. By late 1948, there were nine Bimbo products on the market. The line was expanded in 1952 with the production of the Donas del Osito (Bear Cub Doughnuts) started, along with a new line of buns: Bimbollos, Medias Noches and Colchones.

Sector and competition

Bimbo is mainly in the area of baking, in the field of pastry and bread for sandwiches, hot dogs and hamburgers. In this sector it controls about 90% of the market. Also it has a stake in the confectioner sector and in the sector of snacks.

Bimbo dominates the area of Mexico, it is estimated that an average Mexican spends around 131.6 dollars a year on branded products.

Structure

The Management Council Bimbo is as follows:

Bimbo has several brands, which vary from country to country.

Country/Region Number of brands Examples
Canada 1 Canada Bread[11]
USA 29 Sara Lee, Mrs Baird's, Earth Grains[12]
Mexico 16 Bimbo, Marinela, Barcel[13]
Central America 13 Monarca, La Mejor, Ideal[14]
Latin America 26 Pullman, Plus Vita, Nutrella[15]
Europe 2 Eagle, Bimbo[16]
United Kingdom 1 New York Bakery Co'[17]
Asia 1 Bimbo[18]

Expansion

In 1949 the first depot outside Mexico City was inaugurated in the city of Puebla. In 1956, the Bimbo Occidente plant in Guadalajara started operations,[19] with Roberto Servitje as its first General Manager. Four years later the Bimbo del Norte plant was inaugurated in the city of Monterrey, Nuevo León.

After an administrative restructure and the launch of successful products such as Gansito and Submarinos Marinela, in 1972[20] the company installed the largest bakery in Latin America and one of the ten largest in the world, in Azcapotzalco, Mexico City.

With an important growth in the products and brands portfolio, such as Barcel, Marinela, Tía Rosa, Ricolino and Suandy, Don Roberto Servitje was appointed as CEO of Grupo Bimbo in 1979. A year later, the company started trading 15% of its shares on the Mexican Stock Exchange (BMV).[21]

In 1984, the company started its expansion by exporting to the United States. Two years later, the company created a new organizational structure, known as Grupo Bimbo till today.

Later, in 1989, Bimbo Central America was created with the opening of a plant in Guatemala.[22] Two years later with the addition of Bimbo Argentina, the Latin America Region Corporate structure was created and in 1995, the company opened two more plants in Chile and in Argentina.

With the appointment of Daniel Servitje as CEO of the company in 1997, the global growth strategy was strengthened. In 1998 the Group acquired the American bakery Mrs. Baird’s, as well as Plus Vita and Pullman in Brazil, in 2001. A year later it acquired the West region baking business of George Weston Limited in the United States.

Grupo Bimbo acquired the Panrico bakery in Beijing in 2007, initiating its presence in the Asian market, expanding its operations in two continents.

On 2008, Grupo Bimbo bought Nutrella bakery in Brazil[23] and in 2009 bought all of the George Weston Foods Ltd. in the United States, with the brands Arnold, Boboli, Brownberry, Entenmann’s, Freihofer's, Stroehmann and Thomas’, plus 22 factories and 4,000 delivery trucks.

During 2011, the Group consolidated two acquisitions, becoming the largest baking company in the world. In September, Grupo Bimbo bought Fargo in Argentina, while in October, it closed on the acquisition of Sara Lee's operations in Spain and Portugal, renaming the unit Bimbo Iberia. Thus the company managed to unify the Bimbo brand that operated independently in both countries.

Shortly after, in February 2014, Grupo Bimbo announced the acquisition of Canada Bread.[24] The transaction, valued at C$1.83 billion, enabled the Group to reaffirm its position as the world’s leading baking company by extending its distribution in North America and entering the market of United Kingdom, this last one through the New York Bakery Co. brand, a leading manufacturer of bagels in Europe. In the same year, the company acquired Supan, a baking company in Ecuador, an operation that led the company to reinforce its presence in America and the world.

Relevant acquisitions

Net sales

Brands

See also

References

  1. ↑ http://www.bakeryinfo.co.uk/news/fullstory.php/aid/10551/Sales_up,_profits_down_at_Grupo_Bimbo.html
  2. ↑ Las 500 empresas más importantes de México. CNN Expansión.
  3. ↑ TERRA Economía. "Carta del Director al II Informe Trimestral 2015".
  4. ↑ TERRA Economía. "Carta del Director al II Informe Trimestral 2015".
  5. ↑ TERRA Economía. "Carta del Director al II Informe Trimestral 2015".
  6. ↑ Hostess Brands sale. Bakery and Snaks.
  7. ↑ "Hostess Brands ends sale without $2.3B offer". New York Post. July 7, 2015. Retrieved March 5, 2016.
  8. ↑ "The World's Biggest Public Companies". Fortune. Retrieved 26 June 2016.
  9. ↑ Martínez Castillo Elisa. "Las Marcas Notoriamente Conocidas". p. 19.
  10. ↑ "Estructura" (in Spanish). Retrieved 8 May 2015.
  11. ↑ "Nuestras Marcas en Canadá" (in Spanish). Retrieved 8 May 2015.
  12. ↑ "Nuestras Marcas en Estados Unidos" (in Spanish). Retrieved 8 May 2015.
  13. ↑ "Nuestras Marcas en México" (in Spanish). Retrieved 8 May 2015.
  14. ↑ "Nuestras Marcas en Centro América" (in Spanish). Retrieved 8 May 2015.
  15. ↑ "Nuestras Marcas en Latinoamérica" (in Spanish). Retrieved 8 May 2015.
  16. ↑ "Nuestras Marcas en Europa" (in Spanish). Retrieved 8 May 2015.
  17. ↑ "Nuestras Marcas en Reino Unido" (in Spanish). Retrieved 8 May 2015.
  18. ↑ "Nuestras Marcas en Asia" (in Spanish). Retrieved 8 May 2015.
  19. ↑ Excelsior. "Roberto Servitje: Bimbo no le debe nada al Tratado de Libre Comercio".
  20. ↑ Servitje Sendra Roberto, PEARSON EDUCACIÓN, México 2003. "Bimbo: Estrategia de éxito empresarial". p. 260. ISBN 970-26-0077-4.
  21. ↑ Bolsa Mexicana de Valores
  22. ↑ ALTO NIVEL. "Bimbo, rico en mercadotecnia".
  23. ↑ CNN EXPANSIÓN. "Bimbo da una gran mordida a Nutrella".
  24. ↑ CNN EXPANSIÓN. "Bimbo acuerda la compra de Canada Bread".
  25. ↑ http://www.winnipegfreepress.com/business/saputo-to-sell-canadas-largest-producer-of-snack-cakes-to-canada-bread-286221491.html
  26. ↑ ElFinanciero. "El Osito Bimbo adquiere otra panificadora en Canadá".

External links

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