Grupo Bimbo, a Mexican bakery giant, plans to invest over $2bn in seven states by 2028. The program will create 2,000 direct jobs and 10,800 indirect jobs. The investment aims to increase plant capacity, modernize delivery vehicles, and promote sustainable packaging.

The municipalities benefiting from Grupo Bimbo’s investments include Mexicali, Tijuana, Mérida, Azcapotzalco, Salinas Victoria, El Marqués, Puebla, Toluca, and Lerma. Grupo Bimbo president, José Manuel González Guzmán, expressed confidence in Mexico’s growth under the Plan Mexico initiative.

Grupo Bimbo remains optimistic about potential US tariffs, stating they won’t be affected. The company has been expanding through acquisitions, including Karamolegos Bakery Romania and Don Don bakery in Slovenia last year. First-quarter results showed record net sales of 103.7bn pesos ($5.5bn).

In the 2024 fiscal year, Grupo Bimbo saw a mixed bag of results with net sales up 2.1% but operating income down 6.5%. Adjusted EBITDA increased by 1% to 55.4bn pesos, while net income fell by 18.9% to 12.5bn pesos.

Read more at Yahoo Finance: Grupo Bimbo sets out Mexico-wide capex plans