Bimbo Buys into Brazil’s Nutrella

Grupo Bimbo, the Mexican baker, has reached agreement to take a 75% stake in Brazil’s Nutrella Alimentos. Bimbo says the deal will make it a leading breadmaker in Brazil. It adds that Nutrella, with presence in Sao Paulo and Rio Grande do Sul states, had 2007 sales of BRL150m and Ebitda of BRL21m. Bimbo says it expects to close the deal in the next few weeks.