MEXICO CITY, MEXICO — Grupo Bimbo SAB de CV on July 15 announced it has reached an agreement to acquire Supan, the largest baking company in Ecuador.
Terms of the transaction were not disclosed, but Bimbo said Supan has annual sales of about $57 million and is expected to generate adjusted EBITDA of $6 million. Supan has 900 employees and operates plants in Guayaquil and Quito. The company’s brands of bread, buns and sweet goods include Supan, Bimbo, Grile, Braun, Dulzones, Rey-pan and Panso. According to Supan, the company bakes 74 different products, distributed in 24 provinces of Ecuador at 35,000 different outlets.
“The transaction represents Grupo Bimbo’s debut into the Ecuadorian market, in line with the company’s strategy to further strengthen its footprint in the Americas,” Grupo Bimbo said.
Ecuador will be included in Bimbo’s Latin America reporting region, which at 21,822 million pesos ($1,685 million) accounted for 12% of the company’s net sales in 2013. EBITDA in the region last year was about 103 million pesos ($8 million). The acquisition will bring to 15 the number of countries in which Bimbo operates in Central and South America. Others include Argentina, Brazil, Colombia, Costa Rica, Chile, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Panama, Peru, Uruguay and Venezuela.
KANSAS CITY, MISSOURI, US — Corn is the top produced crop in the world. Its high starch content and versatility make it useful in hundreds of products such as food and beverages, biodegradable materials, fuel ethanol and especially animal feed.
The US Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) projects the world will produce 1.172 billion tonnes of corn in marketing year 2022-23, of which 183.58 million tonnes will be exported. The WASDE sees individual countries’ domestic feed production using 743.05 million tonnes of corn, and global ending stocks at 304.53 million tonnes.
These are the Top 10 corn producing nations in the world, according to the September WASDE 2022-23 projections.