![]() Industry Consolidatorīimbo has acquired its way to scale, consolidating a highly fragmented mature industry. We remain fully committed with our investments for long haul as we see potential to continue growing in multiple categories and markets as well as improving productivity, cost management programs and digital solutions throughout our company. ![]() As CEO Servijte noted in the 3Q2022 Conference Call: Additionally, 11 of the 18 board members are related to the extended Servijte, Mata or Sendra families.Īs a closely-held company, Bimbo, less pressured by Wall Street quarterly expectations, has been focused on achieving long-term goals. The current CEO, Daniel Servitje, is Lorenzo Servijte's son and the Servijte family controls approximately 71.5% of the company's shares. Servijte was famous for his commitment to ethical standards and social responsibility, a tradition Bimbo has continued. When Servijte died in 2017 at the age of 98, then-Mexican President Enrique Peña Nieto attended the funeral. Over the years Servijte, the driving force within the company, became well-known in Mexico as CEO of Bimbo and as an author. ![]() Finally, Alfonso Velasco rearranged the face to its present shape. Anita Mata, Jaime Sendra's wife, added the hat, apron, and the loaf of bread. The Bimbo Bear began with a bear drawing in a Christmas Card given to Jaime Jorba. The somewhat odd name "Bimbo" was a combination of Bambi and Dumbo from the two Disney films that were favorites of Marinela, Lorenzo Servitje's daughter. Mata, Jaime Sendra Grimau, Jaime Jorba Sendra, and Alfonso Velasco, are still closely associated with the company. Many relatives of the founding partners, Lorenzo Servitje Sendra, José T. Closely-Held: Float Equals 19% of Sharesīimbo is a closely-held company with the public float consisting of only about 19% of outstanding shares. ![]() The company operates one of the world's largest direct store delivery fleets ("DSD") distributing more than 10,000 products spread across 10 basic baked goods categories sold through at least six different channels of distribution. Headquartered in Mexico City since its founding in 1945, Bimbo is a multinational organization with 58% of revenues coming from developed nations and 42% from emerging markets. Consider this geographic, category, and distribution channel breakdown: Here's a splash page of their better-known brands:īimbo is not just a basic purveyor of bread and rolls. Wherever you live, chances are good that you've consumed Bimbo products. The first is an overview of the company as of the end of 3Q 2022.īimbo has annual revenues of just under $19.0 billion from operations in 33 countries ranging from Switzerland to Kazakhstan - and employs over 138,000 people. To get a better handle on this company, we're going to take a look at three informative slides from the company's 3Q2022 Investor Presentation. Unless you live in Mexico, you probably don't know much about Bimbo, but recent growth, improved operations, and financial performance have been noteworthy. Volume is consistently too low to recommend this method of acquiring a position in Bimbo. GRBMF is the symbol for Bimbo's Series A shares denominated in U.S. For non-Spanish speaking investors, Bimbo offers annual reports, press releases, and quarterly summary presentations in English. Each ADR represents four Series A "native" common shares that trade on the BMV (Bolsa Mexicana de Valores, the Mexican Stock Exchange). NOTE: The ADR is an SEC Level-I ADR and does not report in the U.S. What if the company had an equally strong 5-year track record? Consider the following 5-year compound annual rates of growth (CAGRs) through year-end 2021 per Seeking Alpha:Ī Web 2.0 play? A Cloud King? No, it's the world's largest baking industry company, Grupo Bimbo ( OTCPK:BMBOY (ADR), OTCPK:GRBMF). What would stellar results look like for a global company operating in a mature recession-resistant industry? How about the following 3Q2022 over 3Q2021 results: Manuel Milan/iStock Editorial via Getty Images
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