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Hogan Lovells advises Mondelēz International in landmark transaction with Grupo Bimbo
Press releases
| 03
May
2022
Mexico City, 3 May 2022 – Global law firm Hogan Lovells represented Mondelēz International in negotiations with Grupo Bimbo in which Mondelēz signed an agreement for the purchase of Ricolino, its confectionery business for a total value of $27 billion pesos or US$1.3 billion at the said day exchange rate. The transaction represents an opportunity for Mondelēz International to double the size of its business in Mexico, while entering the chocolate category and expand its presence in the confectionery segment.
This business, founded in 1970, employs 6,000 employees, operates four plants and distributes its products to several channels. Its iconic brands Ricolino, Vero, La Corona and Coronado are leaders in confectionery products.
The transaction is subject to the certain clearances, including several regulatory approvals, among them from the Mexican Federal Economic Competition Commission (Cofece).
The Hogan Lovells advisory team was led by Juan Francisco Torres Landa Ruffo, Latin America Practice Leader and partner in the firm’s Mexico office. The team included partners Bernardo Herrerías, Ricardo Pons, and Jaime Espinosa de los Monteros, among others, who led on intellectual property, antitrust, tax, respectively. Also relevant was the involvement of counsel Andrea López de la Campa and senior associate Valentina Schmid.