Grupo Bimbo, the Mexico-based bakery group, has added to its domestic production network, investing in its confectionery manufacturing.
The company has opened a new production line at a plant in Toluca, a facility that is part of its Ricolino confectionery business.
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After spending MXN210m (US$10.5m), the factory now manufactures products to be sold under the Bubulubu brand.
The factory, which started production in 1990, also makes products under brands including Chocoreta, Luneta and Duvalín. It supplies the market in Mexico and exports to countries such as the US, Ecuador and Peru.
Earlier this month, Bimbo opened a new bread distribution centre in Mexico after an investment of MXN2.72bn. The company’s other notable expansion project in 2020 saw it form a joint venture in February to enter the central Asian country of Kazakhstan.
The company’s most recent set of financial results – covering the third quarter of the year – included a 14.6% rise in net sales to MXN85.8bn. Operating income was up 46.8% at MXN7.94bn. Bimbo’s third-quarter net majority income was 85.4% higher at MXN3.58bn.
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By GlobalData
