Grupo Bimbo SAB de CV Class A · BMV:BIMBO/A
Grupo Bimbo SAB de CV Class A — Merger or Acquisition (February 2014)
11 slides from Grupo Bimbo SAB de CV Class A's merger presentation, Feb 12, 2014
Slide 1: Canada Bread Acquisition
Canada Bread Acquisition February 12, 2014 1
Slide 2: Transaction Overview
Transaction Overview A unique and sizable opportunity to enter the Canadian baking market - Annual Revenues: CAN$1,439 million1 - Annual EBITDA: CAN$185 million1 (12.9% margin) - Stable cash flow and strong margin, immediately accretive to GB’s EPS Purchase price: CAN$1,830 million Identified
Slide 3: Acquisition Further Strengthens GB's Industry Leadership
Acquisition Further Strengthens GB’s Industry Leadership Attractive • Canadian bakery market has shown stable growth and low price volatility strategic industry • Frozen Bakery represents a new category opportunity Market position • #1 or #2 brands in most Canadian provinces and product portfolio •
Slide 4: Attractive Market Position
Attractive Market Position Canadian Fresh Bakery Market Structure (CAN$) Canadian Packaged Bread Market Share by Volume2 Private Fresh Bakery Market Label $3,682 mm 20% Canada Bread 31% Artisanal Packaged Bread $1,305 mm $2,377 mm1 Other CAGR ’07 - ’12 CAGR ’07 - ‘12 Branded 5.1% 18% 4.8% Weston Bak
Slide 5: Business Overview
Business Overview Business Overview EBITDA (CAN$ mm) 3 EBITDA Margin 185 Total Fresh Frozen U.K. Revenues1 $1,439 $972 $394 $133 165 158 Bakeries2 25 16 7 2 Employees ~5,450 ~3,400 ~1,500 ~550 2011 2012 Annual EBITDA 9.9% 10.5% 12.9% Efficiencies: CAN$40 to CAN$65 million by 2018 ___________________
Slide 6: Category Leadership
Category Leadership Product Competitive Brands Categories Position1 National Bread #2 Frozen (US & Canada): #1 pie shell category Canada Buns & Rolls #1 Quebec Breakfast #1 UK: #1 bagel brand Tortillas #1 Maritimes Western Fruit/ Sweet Bread2) #1 ____________________ 1 Nielsen Market Track (in Canad
Slide 7: Footprint and Market Share
Footprint and Market Share Bakeries1 25 16 bakeries British Fresh – Canada Alberta Maritimes Employees ~ 5,450 Columbia Saskatchewan Quebec DCs / Depots 25 / 177 Manitoba Routes 982 Ontario POS 41,200 Alberta 4 bakeries 2 bakeries Ontario Frozen – Canada UK 3 bakeries England Virginia Frozen – US Ca
Slide 8: Grupo Bimbo's Pro-forma Revenues and Earnings
Grupo Bimbo’s Pro-forma Revenues and Earnings Current Breakdown Pro-forma Breakdown 1 2 LTM 3Q’13 Revenue (US$13.8 Bn) LTM 3Q’13 Revenue (US$15.2 Bn) LatAm Iberia Iberia Canada Bread 13% 3% 3% 9% Mexico +10.5% Growth LatAm 35% Mexico 12% 39% U.S. 45% USA 41% 1 2 LTM 3Q’13 EBITDA (US$1.3 Bn) LTM 3Q’1
Slide 9: Funding the Acquisition
Funding the Acquisition Dec ‘13: Revolving Credit Facility increased from US$1.5 billion to US$2.0 billion1 and tenor was extended to more than 5 years, maturing in March 2019 Pro forma Amortization Profile2 Pro forma Canada Bread (million of USD) Total Debt US $4,546mm Debt/EBITDA 2.9x - 3.1x3 1,65
Slide 10: A Track Record of Deleveraging
A Track Record of Deleveraging Total Debt/ EBITDA 3.3x1 3.1x 2.9x-3.1x2 2.5x 3.0x 1.9x 2.8x3 2.3x 2.4x 1.5x 2.2x 1.1x 1.2x 0.9x 1.1x 0.7x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* 2012 2013E Pro 2014E forma Weston West Weston East Sara Lee Canada Bread ____________________ 1 Pro f
Slide 11: Disclaimer
The information contained herein has been prepared by Grupo Bimbo, S.A.B. de C.V. (the “Company") solely for use at investors´ presentations. The information herein is only a summary and does not purport to be complete. This material has been prepared solely for informational purposes and should not