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Grupo Bimbo bought the company Pagnitify from Linzor Capital

Grupo Bimbo bought the company Pagnitify from Linzor Capital
February 12, 2024 – 2:30 p.m.

The purchase was subject to approval by the Uruguayan Competition Defense Commission.

Grupo Bimbo bought the company Pagnitify from Linzor Capital

The company that dominates the Uruguayan market, Bimbo groupannounced the purchase of Pagnify to Linzor Capitala transaction that must be approved by the Uruguayan Competition Defense Commission; However, the sector was against the transaction as they warned about the possible loss of dozens of Job positions.

According to the statement from the leading company in the Uruguay, to which he agreed Ambit, Bimbo and Linzor Group signed an agreement to sell the company Pagnify. It is subject to approval by the country’s Competition Defense Commission.

In that sense, since Bimbo They assured that this acquisition reaffirms the confidence of Bimbo group in it Uruguay “betting on continuing to grow in the development of its brands and products.” For its part, “the foundations are laid to export the successful business model of Pagnify to the world, a process in which Bimbo will play a key role in bringing Uruguayan work and talent to various markets.

As for the reason for the purchase, since Bimbo They assured that, “although Bimbo group and Pagnify They are baking companies, their portfolios are essentially complementary.” On the other hand, “both companies compete with several other bread brands and countless bakeries throughout the country, so the operation will not generate anticompetitive effects.”

The union, against

From the Bread Coordinating Table issued a statement to warn about the loss of jobs that the purchase of Pagnify in the industrial plant.

“If this operation is carried out, other companies in the transportation sector will be seriously affected. national capitals“, further states the text and adds that the union is in permanent session and on alert.

In relation to this, the union assures that Bimbo has background that do not favor thinking that the production of Pagnify since he “bought Cuban Teacher and Richard and, far from consolidating them, it led to their closure with the subsequent impact on jobs.”

“From the sector we fight for the continuity of Sorchantes (the only company it has today Bimbo group in Uruguay) and Pagnify as independent efforts,” the statement indicates.

Source: Ambito

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