M&A Deal Summary

Grupo Bimbo S.A.B. de C.V. Acquires East Balt

On July 20, 2017, Grupo Bimbo S.A.B. de C.V. acquired food company East Balt from One Equity Partners for 650M USD

Acquisition Highlights
  • This is Grupo Bimbo S.A.B. de C.V.’s 3rd transaction in the Food sector.
  • This is Grupo Bimbo S.A.B. de C.V.’s 2nd largest (disclosed) transaction.
  • This is Grupo Bimbo S.A.B. de C.V.’s 1st transaction in the United States.
  • This is Grupo Bimbo S.A.B. de C.V.’s 1st transaction in Illinois.

M&A Deal Summary
Date 2017-07-20
Target East Balt
Sector Food
Buyer(s) Grupo Bimbo S.A.B. de C.V.
Sellers(s) One Equity Partners
Deal Type Add-on Acquisition
Deal Value 650M USD

Target

East Balt

Chicago, Illinois, United States
East Balt is a global bakery business spanning four continents with 21 bakeries in 11 countries. East Balt has grown over the last 60+ years through partnerships with leading food service organizations and with a dynamic portfolio of high quality products including buns, bagels, English muffins, tortillas and breads. East Balt is recognized as a quality and innovation leader and is committed to driving the success of its customers.

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Buyer(S) 1

Buyer

Grupo Bimbo S.A.B. de C.V.

Mexico
Category Company
Founded 1945
Sector Food
DESCRIPTION

Grupo Bimbo, S.A.B. de C.V. is a provider of baking companies in the world in terms of production and sales volume. As the market leader in the Americas, Grupo Bimbo has 144 plants and more than 1,600 distribution centers strategically located in 19 countries throughout the Americas, Europe and Asia. Its main product lines include sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionery products, among others.

DEAL STATS #
Overall 3 of 5
Sector (Food) 3 of 5
Type (Add-on Acquisition) 2 of 4
State (Illinois) 1 of 1
Country (United States) 1 of 2
Year (2017) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-27 Panettiere

Bogota, Colombia

Panettiere is a frozen baked foods business. Panettiere headquartered in Bogota, Colombia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-24 Modern Food Enterprises Pvt.

Gurugram, India

Modern Food was the first branded bread with a full range of white, sweet, health, and wellness breads, as well as value-added bakery products such as rusks, cakes, muffins, buns, pavs, and cream rolls. Modern Food’s bread and bakery products are manufactured and marketed nationally through a network of seven manufacturing plants and more than 80,000 outlets. Modern Food was formed in 1965 and is based in Gurugram, India.

Buy -

Seller(S) 1

SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.

DEAL STATS #
Overall 32 of 63
Sector (Food) 1 of 1
Type (Add-on Acquisition) 22 of 36
State (Illinois) 2 of 3
Country (United States) 22 of 42
Year (2017) 2 of 4
Size (of disclosed) 11 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-19 Intren

Union, Illinois, United States

Intren is a utility specialty contractor primarily providing electrical distribution network services under various multi-year master service agreements to the nation's largest utilities, municipalities, and cooperatives. Intren was founded in 1988 and is based in Union, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 Lutech

Cologno Monzese, Italy

Lutech is an IT system integration and solutions provider, designing and enabling digital transformation and innovative enterprise technologies for private and public-sector clients. Among the leading IT system integration and solutions providers in Italy, Lutech is able to deliver a wide span of solutions from strategy definition, product licensing and maintenance, to operational management. The company is recognized for its capabilities in the following domains: next-generation IT infrastructure, cloud solutions, customer engagement solutions, credit, and ePayment solutions, cybersecurity, IoT & Big Data, eHealth solutions, and cognitive computing. Lutech was formed in 2001 and is based in Cologno Monzese, Italy.

Buy -
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