Mexican baking giant Grupo Bimbo reported Monday 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 buns for hamburgers, multigrain buns and hot dog buns, among others.
The company's sales volume in Europe, which includes Ukraine and Russia, increased 17% to 108,000 metric tons 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.
With information from Reuters
