Grupo Bimbo is one of six Mexican firms that have become world leaders in their sectors.
Six Mexican firms are world leaders in their sectors due to free trade, good administration, international expansion strategies and acquisitions, reports El Financiero.
Grupo Bimbo, Gruma, Mexichem, Coca-Cola Femsa, Grupo Televisa and José Cuervo, with combined sales totaling nearly US $42 billion last year, weren’t satisfied with being leaders within Mexico. So they went out and conquered the world, the newspaper reports.
The North American Free Trade agreement is credited with being the principal reason for the companies’ success internationally. NAFTA propelled Mexican firms to globalize.
José Antonio Quesada of PricewaterhouseCoopers explained that the importance of NAFTA is reflected in the results at bread-maker Bimbo: 96% of its sales in 1994 were within Mexico. Last year, only 42% of its sales were in this country.
With its purchase of Sara Lee, Bimbo became the biggest bakery in the world and has a presence in 21 countries.
Gruma is a major producer of corn flour with annual production of 2.6 million tonnes and operates in 35 countries.
The others on the list:
- Mexichem is a leader in the manfacture of PVC pipe which it sells in 50 countries.
- Grupo Televisa is the largest Spanish-language media company in the world, having generated 93,000 hours of content distributed in 85 countries. Its penetration in Spanish-speaking homes is estimated between 60 and 85%.
- Coca-Cola Femsa is the biggest bottler of Coca-Cola products in terms of sales due to its expansion in Mexico, Latin America and Asia. Its 1995 sales were 355 million cases with operations only in Mexico and Argentina. Its sales tody are 3.2 billion cases in 12 markets.
- Jose Cuervo is the oldest business in Mexico and second oldest in Latin America. Founded in 1795, it is the largest tequila maker in the world with sales in more than 90 countries.
In spite of severing relations with its partner Diageo, an international beverage company, it has maintained its position as the world leader in tequila.
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