Grupo Bimbo has received US and Canadian clearance for its $C1.83bn Canada Bread acquisition.
The US Department of Justice, under the Hart-Scott-Rodino act, ruled that the acquisition could proceed. Canada’s Competition Bureau cleared the buy-out earlier this month.
The Mexican bread titan snapped up the Canadian bread company last month, buying 90% of the company off its parent firm Maple Leaf Foods.
Grupo Bimbo CEO Daniel Servitje said the purchase advanced Bimbo’s global strategy and moved it into an “attractive” market .
The transaction is expected to close in the second quarter of 2014.