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Kazakhstan|business|February 18, 2020 / 02:07 PM
Mexican bakery company Grupo Bimbo enters Kazakhstan

AKIPRESS.COM - Mexican bakery products manufacturing company Grupo Bimbo has expanded into Kazakhstan, a member country of the Organisation of Islamic Cooperation (OIC), Salaam Gateway reported.

Grupo Bimbo said in a statement on Feb 13 its subsiduary Bimbo QSR had entered into a joint venture with Food Town, which supplies buns to McDonald's in Kazakhstan.

Grupo Bimbo holds 51% share of the JV.

This deal takes the Mexican company's global presence to 33 countries, it said.

The transaction is expected to be completed during the first quarter of 2020.

Grupo Bimbo earned $15 billion in net sales in 2018, according to its annual report. It is listed on the Mexican Stock Exchange.

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