Mondelēz buys Grupo Bimbo’s candy biz Ricolino

Mondelēz International has acquired Grupo Bimbo’s Ricolino confectionery business for about $1.3 billion to double the size of its Mexican business and further boost its international portfolio.

The purchase involves four manufacturing plants employing approximately 6,000 people.

Ricolino is a confectionery company that makes chocolate, candies, lollipops, and other treats. Vero, La Corona, and Coronado are among the company's more than 50-year-old brands.

Bimbo will be able to focus on its core skill of grain-based goods as a result of the deal.