Reuters.- Grupo Bimbo acquired the American manufacturer of gluten-free biscuits Emmy’s Organics. Publicly traded Bimbo disclosed the deal along with its second-quarter results this week, without providing financial terms or price paid for the business, which is located in Ithaca, New York.

Emmy Organics is a manufacturer of “ultra-premium organic cookies and a major player in gluten-free cookies,” the firm said, adding that the acquisition provides the company with an “entry point into the growing cookie and sweet baked goods market. quickly and they are better for the consumer ”.

Bimbo’s business will be operated by a US subsidiary, Bimbo Bakeries USA, which launched a direct-to-consumer channel this year,, for brands such as Entenmann’s, Sara Lee, Thomas’ and Takis.

Also in 2021, Bimbo struck a deal in India to buy Modern Foods, a supplier of baked goods from bread to cakes and muffins, from private equity firm Everstone Capital.

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In its results for the three months ended June 30, Bimbo reported group sales of 83,790 million pesos (4,210 million dollars), a decrease of 2.9% compared to the previous period, a result that reflected the effects of currency translation and the increase in demand observed in the same quarter of 2020 linked to panic buying in relation to the Covid-19 pandemic.

Excluding the impact of the currency, sales increased 6.6%. In the United States, sales decreased 13.5% to 49.4 billion pesos, the group’s operating profit increased 2.5% to 7.05 billion pesos and Adjusted EBITDA rose 5.9% to 12.06 billion pesos, net income rose 18.6% .

Bimbo CEO Daniel Servitje said: “We continue to see strong demand and extraordinary execution rates in our core business. We maintained and increased market share in our key categories and saw a recovery in the channels and categories that suffered during the pandemic. As we move forward, we will continue to invest in our associates, our brands, throughout the value chain, in our sustainability strategy and in our digital transformation projects to achieve our vision. ”

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