Grupo Bimbo launched its 2023 annual report, titled ‘Behind our Actions’, with progress on its commitments for 2030 and 2050. Almost all (93%) of its packaging is made of recyclable materials, the document shows, highlighting the company’s sustainability advances.
grupo bimbo
FDA issued a warning letter to Bimbo Bakeries USA, Inc. over ingredients that are or contain major food allergens on labels, without those ingredients being included in the product formulations.
Grupo Bimbo reports strong performance across most regions in the three months ending on March 31, 2024. During this time, the company’s gross margin expanded 90 basis points to 52.0%, due to lower raw material costs across every region, which was offset by higher labor costs.
Grupo Bimbo appointed Rafael Pamias as CEO, starting from May 1, 2024. The bakery also created the Executive Chair position, which will be held by previous CEO, Daniel Servitje. The Executive Chair will focus on strategic decision-making. The CEO will report directly to the Executive Chair and will be responsible for running the company.
Grupo Bimbo’s net sales reached a record level of Ps. 399,879 million last year, an increase of 11.4%, according to its Q4 and 2023 report. “In 2023, we witnessed a record-breaking year in several metrics including our Capex investments, marked by outstanding performance despite challenges in certain markets. We remain committed to investing in our business, actively seeking efficiencies and exploring transformational opportunities throughout the supply chain across all the markets we operate,” said Daniel Servitje, Chairman and CEO.
Starbucks announced new members were elected to its Board of Directors: Daniel Servitje – CEO and Chairman of Grupo Bimbo, Neal Mohan – YouTube CEO, and Mike Sievert – President and Director at T-Mobile US. Servitje has served as CEO of Grupo Bimbo since 1997 and as Chairman since 2013.
Sarah Boddy is the new managing director of St Pierre Groupe, after previously being in charge of the commercial direction and strategy of the US and UK business. She succeeds David Wagstaff, who became managing director after St Pierre’s acquisition by Grupo Bimbo at the end of 2022.
Grupo Bimbo is moving towards net zero carbon emissions, with 92% of its electricity now coming from renewable sources such as the sun and wind, the company highlighted at its internal Global Sustainability Summit held in Mexico.
Grupo Bimbo’s net sales in Q3 – 2023 reached a record level excluding FX rate impact, growing 8.2% due to favorable price/mix across regions, according to its results for the three months ending on September 30, 2023. Its adjusted EBITDA reached historic levels, Bimbo reports: excluding FX rate impact, it increased by 9.5% and the margin expanded 50 basis points, reaching 14.6%.
Thomas’, a Bimbo Bakeries brand producing grocery store English muffins and bagels in the U.S., expanded its breakfast portfolio with the launch of its new Croissant Bread. It has the flaky delicate layers of a croissant baked into a loaf, which is sliced for convenience.
