Business · Companies · 4 hrs ago
Foreign companies now own several well-known Mexican sweet brands
Several familiar Mexican sweet brands now belong to foreign companies.
Grupo Bimbo sold Ricolino to US-based Mondelēz in 2022 for about $1.3 billion.
The deal included brands such as Paleta Payaso, Duvalín and Panditas, as well as products made by Vero, La Corona and Coronado.
Hershey acquired Grupo Lorena in 2004, bringing Pelón Pelo Rico, a tamarind sweet, into its business.
Mars bought chocolate maker Turín in 2016, adding its Conejos chocolates and other products.
La Azteca, the maker of Carlos V and Chocolate Abuelita, also ended up with Nestlé.
These acquisitions put popular Mexican sweets in multinational portfolios, while the companies sought to expand their reach in Mexico and other markets.
Several well-known Mexican sweets brands have come under the ownership of foreign companies.
Mondelēz International bought Grupo Bimbo’s confectionery business Ricolino for approximately $1.3 billion in 2022.
Hershey acquired Grupo Lorena, maker of Pelón Pelo Rico, in 2004.
Mars acquired Mexican chocolate maker Grupo Turín in 2016.
The acquisitions gave the companies established brands and expanded their presence in Mexico and other markets.
- Who
- Mondelēz International, Hershey and Mars acquired Mexican confectionery businesses.
- What
- The companies took ownership of brands including Paleta Payaso, Pelón Pelo Rico and Conejos Turín.
- When
- The acquisitions took place in 2004, 2016 and 2022.
- Where
- The businesses and brands are associated with Mexico.
- Why
- The companies sought to expand their presence in confectionery markets and reach more consumers.
This story does not have two clearly opposing sides.
Hershey announced its acquisition of Grupo Lorena, maker of Pelón Pelo Rico.
Mars completed its acquisition of Grupo Turín.
Grupo Bimbo agreed to sell Ricolino to Mondelēz International for approximately $1.3 billion.
- Ricolino sale price
- Approximately $1.3 billion
- Ricolino workforce
- 6,000 employees at the time of the sale
- Pelón Pelo Rico owner
- Hershey acquired Grupo Lorena in 2004
- Turín owner
- Mars acquired Grupo Turín in April 2016
- Turín workforce
- More than 800 workers were to join Mars