In an effort to expand into the Mexican market, Barry Callebaut AG has signed a new long-term supply agreement with the Mexican baking company Grupo Bimbo SAB de CV.
Grupo Bimbo, one of the largest food companies in Latin America, has 155 plants and 1,000 distribution centers in 19 countries throughout the Americas and Asia.
Under the terms of the agreement, Barry Callebaut will supply the Grupo Bimbo plants with up to 32,000 tons of chocolate products annually for its domestic market, through the company’s Mexican factories in Toluca and Monterrey. The projected volumes will start immediately.
Barry Callebaut also will invest approximately CHF 15 million (€12 million/$16 million). Further terms of the agreement were not disclosed.
The new agreement was announced less than two weeks after Barry Callebaut also acquired the Spanish nut manufacturer La Morella Nuts S.A. Both deals are part of the company’s strategy to focus on new and growing markets.
“The new outsourcing agreement with Grupo Bimbo is a further landmark in opening up the promising market potential in Mexico,” says Juergen Steinemann, ceo of Barry Callebaut. “This agreement confirms the trend in outsourcing and our strategic focus on emerging markets.”