A district court in California has repudiated a proposed class action settlement by Bimbo Bakeries USA (BBU) to two California residents who alleged the bakery giant had misbranded several of its baked goods.
The Mexican bakery giant reported a 3.2% sales growth to 74,965m Mexican pesos ($3.9m) for Q3 2019, due to solid organic growth in all regions in which it operates and record levels of adjusted EBITDA.
BBU’s parent Grupo Bimbo was named one of the World’s Most Ethical Companies for the second time last year, and the addition of electric vehicles will further the bakery giant’s company-wide commitment.
Mexican bakery giant Grupo Bimbo reported a massive 87% second-quarter revenue decline after it took a 1,960m pesos ($105m) charge for a voluntary redundancy program to create a ‘lean organization design.’
Bimbo Bakeries USA (BBU) will close a Californian bakery and shift production elsewhere after careful analysis showed shortfalls in the infrastructure and manufacturing capabilities, the regional vice president said.