Bimbo Group $650 Million Acquisition of East Balt Bakeries


Cleary Gottlieb Steen & Hamilton, White & Case, NautaDutilh, Morgan Lewis & Bockius and Baker McKenzie advised on the deal

Grupo Bimbo S.A.B. de C.V. finalized an agreement to acquire East Balt Bakeries (“East Balt”), a global leader within the foodservice industry, for a price of US$650 million, cash and debt free.

East Balt is a leading foodservice-focused company that produces and supplies buns, English muffins, rolls, tortillas, bagels, artisanal breads and other baked goods predominantly to Quick Service Restaurants (“QSR”) around the world. Founded in 1955 and headquartered in Chicago, IL, East Balt employs approximately 2,200 associates globally and operates 21 bakeries in 11 countries across the United States, Europe, Asia, the Middle East and Africa, including two joint ventures. The company produces nearly 13 million baked goods each day to service more than 10,000 locations. This acquisition advances Grupo Bimbo’s global growth strategy in high-growth segments and markets.

East Balt generated annual sales of approximately US$420 million1 and an EBITDA of US$70 million1. The transaction has been approved by the Board of Directors of Grupo Bimbo and by East Balt and is expected to close during the second half of the year, subject to the satisfaction of customary closing conditions, including regulatory approvals.

Cleary Gottlieb Steen & Hamilton advised Grupo Bimbo S.A.B. de C.V. with Chantal Kordula (Picture), Michael Albano, Leonard Jacoby, Daniel Ilan, Jason Factor, Jeremy Calsyn y Steve Horowitz, Richard Bidstrup, James Corsiglia, Sebastián Villaveces, Andrea Conzatti, Jessica Batlle, Jane Rosen, Michelle Elsner, Kylie Barza, Beau Sterling, Bobby Underwood, Andrew Kline, Sami Aboulhosn, Victoria del Río, Jina Davidovich, Jaehwan Park, Chris Plante and Eloise Skinner.

NautaDutilh advised Grupo Bimbo S.A.B. de C.V. with Ruud Smits, Sybren de Beurs, Niek de Kort and Menno Lukkes.

Morgan Lewis & Bockius advised Grupo Bimbo S.A.B. de C.V. with Amy Pocino Kelly, Ross Friedman, Randy McGeorge and Lindsay Goodman.

Baker McKenzie advised One Equity Partners with Michael Fieweger, Steven Schneider, John Eichelberger, Christopher Guldberg, Dimitri Marchan and Kuif Klein Wassnik.

Involved fees earner: Ruud Smits – NautaDutilh; Sybren de Beurs – NautaDutilh; Niek de Kort – NautaDutilh; Menno Lukkes – NautaDutilh; Amy Pocino Kelly – Morgan Lewis; Ross Friedman – Morgan Lewis; Randall McGeorge – Morgan Lewis; Lindsay Goodman – Morgan Lewis; Michael Fieweger – Baker & McKenzie; Dmitry Marchan – Baker & McKenzie; Kuif Klein Wassink – Baker & McKenzie; Steven Schneider – Baker & McKenzie; Jon Eichelberger – Baker & McKenzie; Christopher Guldberg – Baker & McKenzie; Chantal Kordula – Cleary Gottlieb Steen & Hamilton; Sebastian Villaveces – Cleary Gottlieb Steen & Hamilton; Andrea Conzatti – Cleary Gottlieb Steen & Hamilton; Jessica Batlle – Cleary Gottlieb Steen & Hamilton; Beau Sterling – Cleary Gottlieb Steen & Hamilton; Dean Park – Cleary Gottlieb Steen & Hamilton; Victoria Karpova – Cleary Gottlieb Steen & Hamilton; Michael Albano – Cleary Gottlieb Steen & Hamilton; Bobby Underwood – Cleary Gottlieb Steen & Hamilton; Leonard Jacoby – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Jane Rosen – Cleary Gottlieb Steen & Hamilton; Michelle Elsner – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Kylie Barza – Cleary Gottlieb Steen & Hamilton; Jeremy Calsyn – Cleary Gottlieb Steen & Hamilton; Richard Bidstrup – Cleary Gottlieb Steen & Hamilton; Andrew Kline – Cleary Gottlieb Steen & Hamilton; Steven Horowitz – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Sami Aboulhosn – Cleary Gottlieb Steen & Hamilton;

Law Firms: NautaDutilh; Morgan Lewis; Baker & McKenzie; Cleary Gottlieb Steen & Hamilton;

Clients: Grupo Bimbo S.A.B. de C.V.; East Balt Bakeries;