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Grupo Bimbo acquires Popcornopolis from NexPhase Capital

An operation to enter the US $ 2.3 billion popcorn market

Baked goods multinational Grupo Bimbo acquired Popcornopolis from NexPhase Capital for an undisclosed sum. William Blair acted as financial advisor to NexPhase and Popcornopolis in the transaction, while Lowenstein Sandler LLP acted as legal advisor. The California-based gourmet popcorn company has achieved nearly $ 72 million in revenue to date, thanks to record growth in e-commerce, and following a transaction by Grupo Bimbo's US snack division Barcel USA.

NexPhase Capital, a company that invests primarily in the lower-middle market through consumer, healthcare and software, supported the popcorn company in 2019 by focusing on expanding its distribution into food, pharmaceutical and mass-market channels and growing the popcorn his business DTC. Grupo Bimbo has also acquired Kitty Bread, which produces white, wholemeal and fruit bread in northern India. The company called it "a move to strengthen its position in the country".

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EFA News - European Food Agency