Mexican baking giant Bimbo said Tuesday that signed an agreement to acquire Don Don, a bread maker in southeast Europe, for an undisclosed sum.
Don Don operates in four countries — Serbia, Slovenia, Croatia and Montenegro — and exports to other markets, Bimbo said. The acquisition, which is subject to regulatory approvals, would increase to 39 the number of countries where the Mexican company has a presence.
Bimbo announced the acquisition in its third-quarter earnings report, in which it reported a 11.6% drop in net profit from a year earlier despite a 7.4% increase in net sales. The Europe-Asia-Africa region accounted for 10.6% of its sales in the period.
The deal follows the Mexican firm’s acquisition of Brazilian baking company Wickbold earlier in the quarter and the closure of its purchase of Uruguayan frozen bread firm Pagnifique.