MEXICO CITY (S&P Global Ratings) April 25, 2022--S&P Global Ratings today said that Grupo Bimbo S.A.B. de C.V.'s (global scale: BBB/Stable/--; national scale: mxAA+/Stable/--) agreement to sell its confectionery business, "Ricolino," to Mondelez International Inc. (Mondelez: BBB/Stable/A-2) has no immediate effect on our ratings and outlook on Bimbo. In our view, the transaction follows Bimbo' strategy to focus on its core businesses in the baking and snack industries. In 2021, Ricolino only represented about 3% of Bimbo's consolidated sales. Although financial terms of the transaction weren't disclosed, we understand that Ricolino was valued at about $1.3 billion and that Bimbo will use the net proceeds to pay down debt, to support funding of its capital investment plan, and for other
