Photo: Bimbo

By THE PULSE NEWS MEXICO STAFF

While the administration of Mexico’s leftist president, Andrés Manuel López Obrador (AMLO), refuses to take any diplomatic or commercial stance against Russia for its invasion into the sovereign nation of Ukraine, Mexico’s leading bread company, Grupo Bimbo, announced Monday, March 14, that it will suspend all sales and future investments in Russia.

Bimbo is the first Mexican company to announce its closure in Russia, following in the footsteps of many U.S. corporations that have halted all business with Moscow.

Bimbo, which began operations in both Russia and Ukraine in 2017 with the acquisition of East Balt Bakeries, said that “due to Russia’s war against Ukraine,” it had decided to suspend its sales, as well as new investments in Russia.

“Due to the current international situation, and in line with our values, Grupo Bimbo wants to let it be known 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 reported in a written statement.

At the end of February, the company suspended operations at its plant in Ukraine, in the city of Dnipro, where 150 people worked. In Russia, Bimbo operated a bakery that employed 362 people.

According to information provided by Bimbo, in 2021 Russian operations contributed 0.5 percent of the company’s total annual revenue, amounting to 349 billion pesos.

Leave a Reply