DOCSLIB.ORG

Nourishing a BETTER WORLD 2017 Integrated Annual Report 1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Nourishing a BETTER WORLD 2017 Integrated Annual Report 1 Nourishing a BETTER WORLD 2017 Integrated Annual Report 1 Nourishing a Better World This is our slogan. For 72 years, we have provided high-quality products to consumers as part of our mission to provide delicious About Us and nutritious baked goods and snacks in the hands of all. We are the largest baking company in the world1 and a key participant in snacks, generating US $14.1 billion2 in net sales in 2017. Our main product lines include fresh and frozen sliced bread, buns, cookies, snack cakes, English muffins, -ba gels, pre-packaged foods, tortillas, salt- ed snacks and confectionery products, among others, in 32 countries throughout the Americas, Europe, Asia and Africa. Our shares trade on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and in the over-the-counter market in the United States with a Level 1 ADR, under the ticker symbol BMBOY. 1 Source: IBISWorld Global 1 Source: IBISWorld Global 2 Based on an average FX rate of Ps. 18.94 in 2017 2 Calculated with an average FX rate of 2017 of Ps. 18.94 2 2017 Integrated Annual Report • BIMBO 3 (GRI: 102-46) “We have a firm Table of Contents conviction to develop 4 In Memoriam 24 With Options for Everyone actions to encourage 6 2017 Highlights 36 We Care for the Environment 8 Grupo Bimbo Today 66 We are Active Agents on healthy habits” Community Development Our Brands Alfred Penny, President of Bimbo Bakeries USA 10 76 We Value the Person 14 Letter from the Chairman & CEO 96 Performance Review 16 Nourishing a Better World 100 Board and Management 19 We Walk a Sustainable Way 102 Audit and Corporate Practices 20 About this Report Committee Report 22 Building a Sustainable, Highly 107 GRI Index Productive and Deeply Humane Company 198 Stakeholder Information 4 2017 Integrated Annual Report Summary • BIMBO 5 In Memoriam “We should see our daily work as a mission, a pa ssion and an adventure” Don Lorenzo Servitje, founder of Grupo Bimbo Don Lorenzo Servitje, founder of Grupo Bimbo 1918-2017 1918-2017 6 2017 Integrated Annual Report • BIMBO 7 2017 (GRI: 201-1, 102-7, 102-8, 305-1, 305-2, 305-3, 403-2) Key figures Economic and financial Set a record of the number (millions of Mexican pesos) Highlights of clients served, reaching Entered 10 new more than 3 million countries, significantly Accessed capital, points of sale enhancing our global profile strengthening our debt profile by increasing the average Net sales Operating income Adjusted EBITDA Net majority income Market capitalization tenor to 11.4 years 267,515 17,472 27,288 4,630 204,636 Strong sales growth 6.1% increase 3.4% decrease 6.9% decrease 21.5% decrease supported by solid organic performance and acquisitions 4% decrease of diesel consumption for primary transportation vs. 2016, Environmental accumulating 31% in the last 7 years Acquired East Balt Bakeries, Bays 1,569,252 303,050 4,886,204 m3 Foods, Adghal Group, Ready Roti and Direct (Scope 1,2,3) (Ton) total waste water consumption CO e emissions (Ton) 92% recycling 18% reduction vs. 2009 Stonemill Bakehouse, diversifying 2 1% reduction vs. 2016 and broadening our leadership 47% of our product in the baking industry portfolio is in the Best & Better categories* Social Snaps Sea Salt Air-popped popcorn without preservatives, 1st place in Merco’s ranking, + 138,000 1.96 artificial colors or trans fats $123 Gansito as the most responsible Total associates Accident rate in Donations company in Mexico, since 2014 worldwide 15% decrease vs. 2016 (millions of pesos) #1 cake in its category 400 fewer accidents *According to Grupo Bimbo’s Nutritional Profiling System (Calculation based on products that represent 80% total sales + new launches) 8 2017 Integrated Annual Report • BIMBO 9 Latin America Sales: 11% Our footprint Grupo Bimbo Mexico Adj. EBITDA: 2% Sales: 31% Today Adj. EBITDA: 59% Europe, Asia North America & Africa 196 We are the largest baking Company in the Sales: 51% Sales: 7% plants world with presence in 32 countries. Adj. EBITDA: 46% Adj. EBITDA: -6% “Integrity should not only be seen as compliance with the law, rules and procedures; +58,000 routes it goes beyond that, it is part of our culture.” Daniel Servitje, Chairman & CEO +3.0 m points of sale EBITDA: Earnings before interests, taxes, depreciation, amortization (GRI: 102-4, 102-6, 102-7, 306-2, 416-1, 202: 103-1, 103-2, 103-3) and other non-cash items 10 2017 Integrated Annual Report • BIMBO 11 Our Brands (GRI:102-2) Our products hold a strong leadership We have developed more than 100 enduring and meaningful brands with top of mind awareness in the markets where we operate. position across markets ® + US ® + US ® ® We develop and offer products with superior quality that nourish and delight our consumers, provide clear information on the nutritional Brands $500 Million Brands Million 2 10 $100 profiles of our products and promote health and wellness initiatives that encourage healthy lifestyles. US Marca Reg. + $1 + US Sliced bread Brands BILLION 5 Brands 5 $250 Million USA Canada Mexico Latin America EAA Marca Reg. #1 #2 #1 #1 #1(4) ® ® ® ® ® Buns and rolls ® USA Canada Mexico Latin America EAA #1 #1 #1 #1 #1(5) Marca Reg. Marca Reg. Marca Reg. Source: Internal information on estimated retail sales by brand during the last 12 months as of September 30, 2017 Bagels “We strive to maintain an emotional bond with our consumers and to develop USA Canada Mexico Latin America EAA customer loyalty through our brands” #1 #1 #1(7) Gabino Gómez, Executive VP 12 2017 Integrated Annual Report • BIMBO 13 English Muffins Tortillas USA Canada Mexico Latin America EAA USA Canada Mexico Latin America EAA #1 #1 #1 #1 #1 Cookies Salty Snacks USA Canada Mexico Latin America EAA USA Canada Mexico Latin America EAA #2 #2 Cakes Confectionery USA Canada Mexico Latin America EAA USA Canada Mexico Latin America EAA #1 #2 #1 #1 #1 (1) #2 Pastries Not applicable GB market share not within top 2 USA Canada Mexico Latin America EAA #1 or #2 GB Market share position (1) Excludes Ecuador and Peru, where GB is #2. (2) Excludes Peru, where GB is #1. (3) Market share position for the countries where GB participates in each category. #2 #1 #2 (2) #1 (6) (4) Excludes China and India. (5) Excludes U.K., Portugal (GB #2) and India. (6) Excludes China, Morocco and U.K. (7) Only in the U.K. Source: Nielsen, IRI and Company Information 14 2017 Integrated Annual Report Summary • BIMBO 15 Letter from the Chairman & CEO (GRI: 102-14, 102-15, 102-32, 200: 103-1, 103-2, 103-3) Given the current situation in Venezuela, we changed our account- Dear shareholders: ing method for this operation’s financial results to a Fair Value basis, while continuing to serve this market the best we can. 2017 was in terms of reinvestment a transition year , having successfully in- and restructuring to create long-term value and drive profitability. transformation We accessed capital, supporting our strategy to drive the expansion tegrated 32 plants into our manufacturing footprint and of Grupo Bimbo’s industry leadership, while enhancing our financial closed ten, resulting in the creation of a lean and efficient The year was marked by several challenging circumstances, includ- profile by increasing the average tenor of our debt to 11.4 years and foundation for our supply chain. ing a difficult global economic and political environment and the se- maintaining health and flexibility in our balance sheet. vere natural disasters we experienced in some of our geographies. On the road to our 2020 Vision, we created the Global Internally, we also faced the restructuring of our Frozen business, as Transformation Office to accelerate our ten strategic ini- These would not have happened without taking care well as operational issues in our U.K. and Chinese markets. tiatives. In the meanwhile, we launched our business ac- of our people, our communities celerator, ELEVA, which offers funding, mentoring and However, this year’s milestones make me potential commercial alliances to promising startups. This and our environment. For example, our Safe- feel very proud of Grupo Bimbo. Here is a snapshot: new venture multiplies our possibilities for success in the ty Incident Rate improved by 15%, with a reduction of 400 accidents. search for innovation in products and processes. We captured strategic opportunities to enter ten new countries, As part of our sustainability strategy we created a through the acquisitions of: Ready Roti in India, a dynamic and Having said so, all these initiatives where aimed at department to focus our efforts on renewable energies. In addition, growing market; Adghal Group in Morocco; and most recently driving profitability for the long run. even with our acquisition-driven growth in the year, we managed to East Balt Bakeries, now Bimbo QSR, which gives us a leading Among our more than US$680 million investment in maintain stable environmental performance across our plants. position within the high-growth QSR business, enabling us to CAPEX, we started up a LEED Gold certified plant in Bo- serve customers and quick-service restaurants in a new way. gota and another one in Tepeji del Río, Mexico. We continue to remain strongly committed to the ten principles of the UN Global Compact, as well as to the 17 UN Sustainable devel- We also completed two small but strategic acquisitions in the opment goals. We invested US $70 million in the integration of Donuts markets where we currently operate: Stonemill in Canada and Iberia in Europe, which has been a complex process but is Bays English Muffins in the United States.
Load more

Recommended publications
  • Global Profile Local Character
    strategy execution sustainability leadership strength discipline flexibility Global profile local character 2009 Annual Report 1 Central America Region America Central Headquartered in San José, Costa Rica. Countries included: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Principal brands are Bimbo, Breddy, Europa, Ideal, Lido, La Mejor, Marinela, Milpa Real, Monarca, Pix and Ricolino. Latin America Organizacion Latinoamerica Headquartered in Buenos Aires, Argentina. Countries included: Argentina, Brazil, Chile, Colombia, Paraguay, Peru, Uruguay and Venezuela. Principal brands are Agua de Piedra, Ana Maria, Bimbo, Cena, Firenze, Fuchs, Holsum, Ideal, Lagos del Sur, Lalo, Laura, Los Sorchantes, Maestro Cubano, Mama Ines, Marinela, Nutrella, Oroweat, Plucky, Plus Vita, Pullman, Pyc, Ricard, Ricolino and Trigoro. China Organizacion Asia Headquartered in Beijing, China with the Bimbo and Million Land brands. One of the leading manufacturers of bakery products and prepared foods, with distribution in cities north of Beijing as well. Main products are biscuits; packaged bread in such varieties as white, whole wheat, milk and corn; pastries; and prepared foods like sandwiches and hamburgers. 98 plants 2 Mexico Organizacion Barcel S.A. de C.V. Headquartered in Lerma, Mexico. Principal brands are Barcel, Grupo Bimbo Coronado, Juicee Gummee, La Corona and Ricolino. today Mexico Advanced Gastronomy and Pastries Headquartered in Mexico City and located in 18 states throughout the country. Its principal brands are El Globo, with 125 years of history; La Balance with 25 years; and El Molino with 80 years. Fine traditional Mexican pastries. Mexico Bimbo S.A. de C.V. Headquartered in Mexico City. Principal brands are Bimbo, Del Hogar, Gabi, Lara, Lonchibon, Marinela, Milpa Real, Oroweat, Saníssimo, Suandy, Tía Rosa and Wonder.
    [Show full text]
  • Company Profile CONTENTS Grupo Bimbo Is the Leading Baked Goods Company in the World
    GR U PO BIMBO | 08 A NN UAL UAL R E port FOCUS ON EXECUTION COMPANY PROFILE CONTENTS Grupo Bimbo is the leading baked goods company in the world. It Financial Highlights 3 generated $82.3 billion pesos in net sales in 2008. Letter from the Chairman 4 www.grupobimbo.com We make over 5,000 products under more than 150 well-known Letter from the CEO 6 Prolongación Paseo de la Reforma No. 1000 brands names in categories such as bread, buns, cookies, cakes, Vision 2010 8 pastries, sweet bread, muffins, bagels, packaged foods, tortillas, salted A company with trustworthy, leading brands 9 Col. Peña Blanca Santa Fé snacks and confectionary goods. Through continuous innovation, we Our customers’ preferred supplier 10 A strong and sound Company 11 Delegación Álvaro Obregón are satisfying consumer tastes and enhancing the nutritional value of A forward looking Company 12 our product portfolio. México D.F., 01210 An extraordinary place to work 13 Our Group is comprised of more than 108,000 associates in 18 Tel: (5255) 5268.6600 Management Committee 14 countries. We have one of the most extensive distribution networks in Board of Directors 15 the world, with more than 41,000 routes and more than 1.8 million Governance Committees 15 points of sale. Grupo Bimbo’s shares are traded on the Mexican Stock Board Members 16 Exchange under the ticker symbol BIMBO. Advisory Board 18 The Group signed an agreement in December 2008 to acquire the Corporate Governance 19 baking business of Weston Foods, Inc. (WFI) in the United States.
    [Show full text]
  • FIC-Prop-65-Notice-Reporter.Pdf
    FIC Proposition 65 Food Notice Reporter (Current as of 9/25/2021) A B C D E F G H Date Attorney Alleged Notice General Manufacturer Product of Amended/ Additional Chemical(s) 60 day Notice Link was Case /Company Concern Withdrawn Notice Detected 1 Filed Number Sprouts VeggIe RotInI; Sprouts FruIt & GraIn https://oag.ca.gov/system/fIl Sprouts Farmers Cereal Bars; Sprouts 9/24/21 2021-02369 Lead es/prop65/notIces/2021- Market, Inc. SpInach FettucIne; 02369.pdf Sprouts StraIght Cut 2 Sweet Potato FrIes Sprouts Pasta & VeggIe https://oag.ca.gov/system/fIl Sprouts Farmers 9/24/21 2021-02370 Sauce; Sprouts VeggIe Lead es/prop65/notIces/2021- Market, Inc. 3 Power Bowl 02370.pdf Dawn Anderson, LLC; https://oag.ca.gov/system/fIl 9/24/21 2021-02371 Sprouts Farmers OhI Wholesome Bars Lead es/prop65/notIces/2021- 4 Market, Inc. 02371.pdf Brad's Raw ChIps, LLC; https://oag.ca.gov/system/fIl 9/24/21 2021-02372 Sprouts Farmers Brad's Raw ChIps Lead es/prop65/notIces/2021- 5 Market, Inc. 02372.pdf Plant Snacks, LLC; Plant Snacks Vegan https://oag.ca.gov/system/fIl 9/24/21 2021-02373 Sprouts Farmers Cheddar Cassava Root Lead es/prop65/notIces/2021- 6 Market, Inc. ChIps 02373.pdf Nature's Earthly https://oag.ca.gov/system/fIl ChoIce; Global JuIces Nature's Earthly ChoIce 9/24/21 2021-02374 Lead es/prop65/notIces/2021- and FruIts, LLC; Great Day Beet Powder 02374.pdf 7 Walmart, Inc. Freeland Foods, LLC; Go Raw OrganIc https://oag.ca.gov/system/fIl 9/24/21 2021-02375 Ralphs Grocery Sprouted Sea Salt Lead es/prop65/notIces/2021- 8 Company Sunflower Seeds 02375.pdf The CarrIngton Tea https://oag.ca.gov/system/fIl CarrIngton Farms Beet 9/24/21 2021-02376 Company, LLC; Lead es/prop65/notIces/2021- Root Powder 9 Walmart, Inc.
    [Show full text]
  • 70 Years Young
    70 Years Young Integrated Annual Report 2015 Grupo Bimbo · 1 Table of contents 2 70 years young 3 Highlights from the year 5 Grupo Bimbo today 7 Letter from the Chairman & CEO 10 Industry overview 13 Building on our key capabilities 14 Risk Management 15 Creating sustainable long-term value and a responsible value chain 21 Sustainability at Grupo Bimbo 23 Materiality 27 Wellbeing Pillar 45 Planet Pillar About Grupo Bimbo 58 Community Pillar G4-3 G4-4, G4-6, G4-8 66 Value Chain Grupo Bimbo is the largest baking company in the world, with US$13.8 billion* of sales in 2015. Our operations span 22 countries throughout 77 Associates Pillar the Americas, Europe and Asia. Every day, millions of people enjoy our 89 Corporate Governance breads, buns, cookies, snack cakes, english muffins, bagels, pre-pack- aged foods, tortillas, salty snacks and confectionary prod ucts, among 96 About this report others. Our shares trade on the Mexican Stock Exchange (BMV), under 97 Summary financial performance the ticker symbol BIMBO, and we are included in its Sustainability Index as well since its creation in 2011. 102 GRI content Index 109 Consolidated Financial Statements 166 Contact *US$1 = Ps. 15.85, 2015 average exchange rate Grupo Bimbo · 2 Our Mission 70 years young G4-56 Delicious and nutritious baked goods and snacks in the hands of all. Our Vision In 2020 we transform the baking industry and expand our global leadership to better serve more consumers. Our Beliefs We celebrated our 70th anniversary in 2015, embracing the G4-6, G4-8, G4-4 entrepreneurial spirit of our founders that continues to drive our dynamism and momentum today.
    [Show full text]
  • U.S.$800,000,000 4.50% Notes Due 2022
    OFFERING MEMORANDUM U.S.$800,000,000 4.50% Notes due 2022 Guaranteed by Bimbo, S.A. de C.V., Barcel, S.A. de C.V., Bimbo Bakeries USA, Inc., Bimbo Foods, Inc. and Earthgrains Bakery Group, Inc. We are offering U.S.$800,000,000, aggregate principal amount of our 4.50% notes due 2022, or the notes. Interest on the notes will accrue at a rate of 4.50% per year. We will pay interest on the notes semi-annually in arrears on January 25 and July 25 of each year, commencing on July 25, 2012. The notes will mature on January 25, 2022. The notes will be our senior obligations and will be guaranteed by certain of our subsidiaries. The notes will rank at least pari passu in right of payment with all of our unsecured and unsubordinated debt, and the guarantees will rank at least pari passu in right of payment with all unsecured and unsubordinated debt of each subsidiary guarantor (in each case, subject to any priority rights pursuant to applicable law). We may redeem the notes in whole or in part at any time at a redemption price equal to the greater of par and a make- whole amount described herein. See “Description of the Notes – Optional Redemption.” In addition, we may redeem the notes, in whole but not in part, at 100% of their principal amount plus accrued interest and additional amounts, if any, upon the occurrence of specified events relating to Mexican tax law, all as described under “Description of the Notes –Redemption.” Application has been made to the Irish Stock Exchange for the notes to be admitted to the Official List and trading on the Global Exchange Market, which is the exchange-regulated market of the Irish Stock Exchange.
    [Show full text]
  • Sara Lee North American Fresh Bakery Acquisition
    Sara Lee North American Fresh Bakery Acquisition November 9, 2010 0 Transaction Overview Grupo Bimbo acquires: North American Fresh Bakery Division of Sara Lee Corporation (“Sara Lee NAFB”) Royalty-free perpetual license to the Sara Lee® brand in fresh bakery category and select geographies Purchase price: enterprise value of US$959 million Identified synergies of US$150 – US$200 million by 2013 Sales & distribution, manufacturing, purchasing, selling & marketing and overhead rationalization Implied transaction multiples (a) FV/LTM Revenues: 0.5x FV/LTM EBITDA: 8.9x FV/Synergized EBITDA: 3.7x (b) Expected closing: first half of 2011 ____________________ a) LTM as of October 2, 2010 b) Assuming US$150 million synergies 1 1 Grupo Bimbo’s Pro Forma Mix Current Mix Pro Forma Mix LTM Q3 2010 Net Sales: US$9.1 billion LTM Q3 2010 Net Sales: US$11.1 billion LatAm LatAm +23% Growth 12% 10% Mexico Mexico 38% 47% U.S. 41% U.S. 52% LTM Q3 2010 EBITDA: US$1.3 billion LTM Q3 2010 EBITDA: US$1.4 billion LatAm LatAm +8% Growth 5% 5% U.S. U.S. 34% 39% Mexico Mexico 56% 61% ____________________ Grupo Bimbo LTM as of Q310 Converted to US$ using a 365-day average exchange rate of $12.80 Sara Lee NAFB LTM as of October 2, 2010 2 2 While Generating Value To Shareholders, Transaction Maintains Grupo Bimbo’s Strength And Flexibility Grupo Bimbo Leverage Ratio Evolution (a) Total Debt/EBITDA 3.3x 2.6x 2.3x 2.0x 1.5x 1.2x 1.1x 0.7x (b) 2004 2005 2006 2007 2008 PF 2009 2010E 2010 PF ____________________ a) Assuming the acquisition is funded with a combination of cash on hand and debt for US$700 million b) Pro-forma for Weston Foods, Inc.
    [Show full text]
  • Priszm Entities
    VENDOR LIST Priszm Entities VENDOR NAME Address1 Address2 Address3 City Province Postal Code TOTAL THE PRUDENTIAL INSURANCE COMPANY OF AMERICA C/O BINGHAM MCCUTCHEN LLP ONE STATE STREET HARTFORD CT 06103-3178 56,045,241.92 PRUCO LIFE INSURANCE COMPANY C/O BINGHAM MCCUTCHEN LLP ONE STATE STREET HARTFORD CT 06103-3178 7,895,248.64 PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY C/O BINGHAM MCCUTCHEN LLP ONE STATE STREET HARTFORD CT 06103-3178 1,659,509.44 SYSCO MILTON(PRONAMIC) KFC 2800 PEDDIE ROAD MILTON ON L9T 6Y9 919,752.72 DISTAGRO 380 RUE GODIN VANIER QC G1M 2K1 849,225.73 PEPSI-COLA BEV. CANADA ( NSS ) P.O. BOX 1040 STATION "B" TORONTO ON M5T 3H5 541,094.78 KONINGS WHOLESALE 1346 KINGSWAY AVENUE PORT COQUITLAM BC V3C 6G4 442,503.14 SYSCO FOOD SERVICES (KINGSTON) 650 CATARAQUI WOODS DRIVE KINGSTON ON K7P 2Y4 413,862.15 MAPLE LODGE FARMS LTD. 8301 WINSTON CHURCHILL BLVD BRAMPTON ON L6Y 0A2 333,775.32 SERCA FOODSERVICE INC ATLANTIC DIVISION 1 DUCK POND ROAD LAKESIDE NS B3T 1M5 328,207.31 SUNRISE POULTRY PROCESSORS LTD 13542 - 73A AVENUE SURREY BC V3W 1C9 234,644.84 SYSCO SERCA FOOD SERV.WEST INC PO BOX 6804, STATION D CALGARY AB T2P 2E7 206,171.95 SYSCO FOOD SERVICES CALGARY PO BOX 6780,STATION D CALGARY AB T2P 2E9 193,094.66 SYSCO SERCA FOOD SERV.WEST INC PO BOX 6780,STATION D CALGARY AB T2P 2E9 190,568.85 YUM!RESTAURANTS INTERNATIONAL (CANADA) COMPANY 101 EXCHANGE AVENUE VAUGHAN ON L4K 5R6 175,729.82 WASTELESS ENVIRONMENTAL SERV SUITE 1600,700 - 6 AVENUE SW CALGARY AB T2P 0T8 161,102.18 SYSCO MILTON(PRONAMIC) TB 2800 PEDDIE ROAD MILTON ON L9T 6Y9 150,493.90 EXCELDOR COOPERATIVE AVICOLE 5700 RUE J.B.
    [Show full text]
  • A Model Bakery
    A Model Bakery Spared No Money When George Weston’s Model Bakery went into production in the fall of 1897, it created quite a stir. As Canada’s biggest, most modern bread factory, it received considerable press coverage and was the subject of at least one newspaper report south of the border. It also set off a price war among Toronto’s bakers. The city’s press wrote glowingly of how Mr. George Weston had “spared no money” in building his new Model Bakery and marveled at the factory’s Model Bakery, Soho and ability to turn out thousands of loaves of bread on a daily basis. While Phoebe streets, Toronto, ca. turn-of-the-century Toronto was a city of bakeries, dozens of them, most 1899. were small operations that made a few hundred loaves a day. But with his new bread factory, George Weston was baking 3,200 loaves a day, with the capacity to double production. Within months, the Model Bakery was making more than 6,000 loaves per day. The Evening Star was impressed enough with the operation and its proprietor, given his humble beginnings as a baker’s apprentice, to write, “Perseverance and pluck combined with brains have brought many a man out of the rut. Such a man is Mr. George Weston.” [next] A Model Bakery Should Not Suffer It wasn’t only the Model Bakery’s capacity to mass-produce bread that attracted attention, though, but also its high standards with regards to cleanliness and neatness. “The fault of many bakers was that their surroundings were not clean enough, and Mr.
    [Show full text]
  • Bartosiake V. Bimbo Bakeries USA, Inc
    Case: 1:21-cv-04495 Document #: 1 Filed: 08/23/21 Page 1 of 15 PageID #:1 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION Wayne Bartosiake, individually and on behalf 1:21-cv-04495 of all others similarly situated, Plaintiff, - against - Class Action Complaint Bimbo Bakeries USA, Inc., Jury Trial Demanded Defendant Plaintiff alleges upon information and belief, except for allegations pertaining to plaintiff, which are based on personal knowledge: 1. Bimbo Bakeries USA, Inc. (“defendant”) manufactures, labels, markets, and sells a chocolate cake purporting to be iced with chocolate fudge (“Chocolate Fudge Iced Cake”), under the Entenmann's brand (“Product”). 2. This representation is misleading because it gives consumers the impression the Product contains a greater relative and absolute amount of fudge than it does. 1 Case: 1:21-cv-04495 Document #: 1 Filed: 08/23/21 Page 2 of 15 PageID #:2 I. DEFINITIONS OF FUDGE 3. Fudge “is a type of sugar candy that is made by mixing sugar, butter and milk.”1 4. Though fudge can have almost any flavor, milkfat is the central component. 5. An 1893 recipe for fudge called for “Four cups granulated sugar; one cup cream; one cup water; one-half cake chocolate; one-half Cup butter.”2 6. In 1896, The Los Angeles Times published the original fudge recipe by the Vassar students credited with first making fudge: “Two cups of sugar, one cup of milk, a piece of butter one-half the size of an egg” and added flavoring.3 7. A 1902 fudge recipe from Mrs.
    [Show full text]
  • On the Right 2018 INTEGRATED ANNUAL REPORT to Get There, We Have Strived to Seventy-Three Do Things Right
    On the right 2018 INTEGRATED ANNUAL REPORT To get there, we have strived to Seventy-three do things right. This means working efficiently along our complete value chain with the maximum quality, in order to be successful and achieve our goals. we began a long journey, to become the number one baking company in the world. The road has been full of challenges and we now have the commitment to fulfill our Vision: Together with a team of professional leaders with the best talent and guiding the Company towards the right “In 2020 we transform the steps, we have achieved almost all of the objectives baking industry and expand on this journey, but we are not there yet. our global leadership to better serve more consumers”. We are on the right track to build a sustainable, highly productive and deeply humane company. (GRI 102-46) (GRI Table of 4 #1 baking Company 6 Letter to our shareholders 8 2018 highlights 12 Tracking down the right recipe 20 Environmental management in the value chain of the Company 36 On the right track with the environment 68 Our top brands 70 Local success to global expansion 72 Global market share 76 On the right track for continuous growth 80 Tracking our communities 98 Keeping track on progress 130 Record-breaking results in 2018 134 Performance review 138 Board and Management 140 Audit and Corporate Practices Committee Report 144 About this report 146 GRI Index 158 Consolidated Financial Statements 235 Stakeholder information We are the largest baking Company in the world1 and a relevant participant in snacks, generating Today we are US$15.0 billion2 in net sales in 2018.
    [Show full text]
  • I GRUPO BIMBO, S.A.B. DE C.V
    TRANSLATION FOR INFORMATION PURPOSES ONLY ANNUAL REPORT OF GRUPO BIMBO, S.A.B. DE C.V. Annual Report filed pursuant to the general provisions applicable to securities issuers and other participants in the securities’ market (disposiciones de carácter general aplicables a las emisoras de valores y a otros participantes del mercado de valores) for the fiscal year ended on December 31, 2018. Name of the issuer: Grupo Bimbo, S.A.B. de C.V. Headquarters: Prolongación Paseo de la Reforma No. 1000, Colonia Peña Blanca Santa Fe, C.P. 01210, Mexico City. The address of Grupo Bimbo, S.A.B. de C.V. on the Internet is www.grupobimbo.com, provided, however, that the information contained therein is not part of this Annual Report. Outstanding shares: the authorized capital stock of Grupo Bimbo, S.A.B. de C.V. consists of Series “A” common shares, ordinary, nominative, with no par value, registered under the Securities Section of the National Securities Registry (“RNV”) and listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B. de C.V.). Also, Grupo Bimbo, S.A.B. de C.V. has issued the notes (“Certificados Bursátiles”), which are described below. Ticker symbol: “BIMBO”. The registration in the National Securities Registry does not constitute a certification as to the investment quality of the securities, the solvency of the issuer, or the accuracy or veracity of the information contained in this Annual Report, nor does it validate the acts, if any, that were carried out in violation of the laws. Mexico City, April 30, 2019 i GA #221262v3 TRANSLATION FOR INFORMATION PURPOSES ONLY KEY INFORMATION WITH RESPECT TO THE NOTES (CERTIFICADOS BURSATILES) ISSUED BY GRUPO BIMBO, S.A.B.
    [Show full text]
  • Over the Last Seven Years, We've Been Rebuilding Our
    2014 ANNUAL REPORT Maple Leaf Foods Inc. Foods Maple Leaf OVER THE LAST 2014 ANNUAL REPORT ANNUAL 2014 SEVEN YEARS, WE’VE BEEN REBUILDING OUR COMPANY. NOW WE’RE POISED FOR PROFITABLE GROWTH. CMYK Maple Leaf Foods Inc. is a leading Canadian consumer protein company, making high-quality, innovative products under national brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders Country Naturals® and Mina™. The Company employs approximately 12,000 people across Canada and exports to global markets, including the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI). Table of Contents Message to Shareholders ii | Message from the Chairman vi | Corporate Governance and Board of Directors vii | Senior Management and Officers viii | Management’s Discussion and Analysis 1 | Independent Auditors’ Report 33 | Audited Consolidated Financial Statements 34 | Corporate Information 83 Financial Highlights For years ended December 31 (In millions of Canadian dollars, except share information) 2014 2013(i) 2012(i) (ii) 2011(i) (ii) 2010(i) Consolidated results Sales 3,157 2,955 3,075 3,082 3,216 Adjusted Operating Earnings (Loss)(iii) (75) (136) 57 36 49 Net earnings (loss) from continuing operations (214) (141) (31) (47) (75) Net earnings(iv) 710 496 89 59 29 Return on Net Assets(iii) (v) (3.7)% (0.2)% 9.4% 9.7% 8.6% Financial position Net assets employed(v) (vi) 1,729 2,124 2,101 1,907 1,966 Shareholders’ equity(v) 2,244 1,581 891 865
    [Show full text]