MEXICO CITY— Grupo Bimbo announced the signed agreement to acquire Wickbold, a major player in the Brazilian baking industry.

 The transaction includes the Wickbold and Seven Boys brands, which encompass packaged breads, sweet baked goods, cookies, panettones and bisnaguinhas (soft bread rolls). The acquisition also entails four manufacturing facilities located in Brazil’s southern region.

 “We will be excited to welcome the more than 2,500 associates of Wickbold to the Grupo Bimbo family,” said Rafael Pamias, CEO of Grupo Bimbo. “This family-owned business complements our brand portfolio with brands that consumers love and better positions our company in the south region of Brazil.”

The transaction is ongoing and subject to regulatory approvals.