Mexico City, Mexico — Bimbo has announced the suspension of its sales in Russia as well as a halt to new investments. On Monday, Mexican baking giant Grupo Bimbo reported that it has suspended sales under its brand and new investments in Russia following the Eurasian country’s invasion of Ukraine.
Due to the current international situation, and in line with our values, Grupo Bimbo informs that it has suspended sales of the Bimbo brand in Russia, as well as its new capital and marketing investments in that country.
The company, led by Daniel Servitje, has been present in Russia since 2017 with the sales model to fast food restaurants through which it sells hamburger buns, multigrain buns and hot dog buns, among other baked goods.
The company’s sales volume in Europe, which includes Ukraine and Russia, increased 17% percent during the fourth quarter of 2021.
“We will continue to monitor and evaluate the situation as circumstances evolve,” the company said in its statement.
Bimbo had said that the conflict between Russia and Ukraine becomes an “additional risk” for its global operation because it may have an increase in the prices of wheat, its main raw material.
At the end of February, the company announced the temporary suspensions of its operations at its plant in Dnipro, Ukraine. The Mexican company said it has decided to shut the plant to safeguard its 150 workers in the conflict zone.