EY Tunisie Celebrates Successful Operation between Grupo Bimbo and Moulin d'Or
EY Tunisie is thrilled to announce the successful completion of the operation between Mexican Grupo Bimbo and Tunisian Moulin d'Or. The transaction leveraged EY's expertise in Financial & Tax Due Diligence, M&A, and Tax Structuring services to advise the agri-food manager, which guided the world's largest bakery company, with over 134,000 employees in 33 countries, in its strategic entry into the Tunisian market. Moulin d'Or is a leading local player in the production and distribution of cakes, biscuits, bread, tarts, and pastries.
In 2023, the baker's revenue (excluding exchange rate effects) increased by 10.7% to reach 399,879 billion pesos (73,946 billion dinars). Its EBITDA evolved by 2.8% to reach 54,942 billion pesos (11,084 billion dinars), while the margin progressed by 30 basis points. The EBIT and net income decreased by 0.9% and 34%, respectively, with an EBIT margin of 8.9%.
This acquisition coincides with the closure of Bimbo Bakeries' American subsidiary in Albuquerque, New Mexico, which employs 149 people.
Grupo Bimbo's ambition, having acquired all Moulin d'Or's brands and factories, is to transform it into a regional leader and an export platform. This is an excellent opportunity to take over a company of such size. Forbes ranks it 608th globally in terms of revenue, a ranking that is not often observed in Tunisia.