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Grupo Herdez announces acquisition of the Mediterranean food segment

/ Investors / By

Mexico City, Mexico, October 24, 2022 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (BMV: HERDEZ) the Mexican food company with more history in the country, through its subsidiary Herdez Del Fuerte, announces the acquisition of the companies Interdeli and Deli, Dips & Snacks (“Mediterranean”) for MXN 587 million. Mediterranean owns the brands LIBANIUS®, FLAVEUR®, LIGURIA®, among others (https://libanius.com.mx/). Mediterranean is a market leader in Mexico in the production and sales of authentic Mediterranean-style ready-to-eat products.

This acquisition is part of Grupo Herdez’s strategy to grow new capacities and offer new products and tastes, expanding its brand portfolio by introducing products in new categories such as dry labneh, hummus, goat cheese, pita bread, and others. LIBANIUS®, FLAVEUR®, LIGURIA®, and the rest of the brands of Mediterranean join the Preserves segment, where the Company consolidates the financial results of Aires de Campo®, Barilla®, Búfalo®, Del Fuerte®, Doña Maria®, Herdez®, and McCormick®, among others.

Net sales of Mediterranean in the last twelve months were MXN 473 million, with an EBITDA margin of 16.2%. Mediterranean has two plants in Querétaro and more than 300 employees. Likewise, they are leaders in the categories where they participate – approximately 74% of net sales- and innovation is a key component of the company’s growth.

“With this acquisition we strengthen our powerful brand portfolio. Mediterranean offers the flair of Mediterranean food to the tables of Mexican Families and innovation will keep us close to consumers,”

said Héctor Hernández-Pons Torres, Chairmain and CEO of Grupo Herdez

With this incorporation we strengthen Herdez Del Fuerte portfolio, through authentic products, focusing on new consumer trends with high growth potential. In addition, we will benefit from strategic, operational, and commercial synergies in the Consumer Sector, recognized for its leading and flagship brands in Mexican gastronomy,”

said Alejandro de la Barreda Gómez, CEO of KUO.
Download the press release

Grupo Herdez 2019

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2020

  • 2020: We launched the first edition of Semillero Nutrisa. Together with Nutrisa and the Victoria147 business academy for women, we invited women entrepreneurs to participate in a training program to improve the management of their businesses and have the potential to become part of our supply chain.

We established our first technological alliance with Google, which will allow us to accelerate the digital transformation of Grupo Herdez through the use of Google Cloud Platform tools such as BigQuery ML, Looker, among others.

Through the Herdez® brand and Aires de Campo® we joined the “Sowing a New Normality” initiative, promoted by the civil society organizations Ríos Tarango and Ectágono, which aims to increase the vegetation cover of the environmentally valuable area Barranca de Tarango.

  • 2021: We developed the Group’s second proprietary e-commerce platform, with the Nutrisa® online store.

We updated the apps through which we manage the loyalty programs of our retail brands, Cielito Querido Café® and Nutrisa®, improving our customers’ in-store experience.

During the year, 15 formulas had their nutritional profile strengthened by reducing some critical added nutrients (sugars, sodium and saturated fats).

  • 2022: We expanded our capabilities into new categories through the acquisition of Interdeli and Deli, Dips & Snacks. Integrating brands such as Libanius, Flaveur, Liguria and Señor Cactus into our portfolio.

We Issued the first sustainability bond through which we
committed to a 25% reduction in our water consumption.

Together with our partner McCormick & Company, Inc. we
brought the most iconic Mexican cuisine to the tables of the United Kingdom
through meal kits, sauces and condiments under the Herdez® brand.  In less than a year, we obtained a 5.5% shelf
share in the Tesco supermarket chain.

We consolidated the integration of Chilim Balam® into retail brands, a leading brand in the snack segment