Milling & Baking News - August 23, 2022 - 11

Bimbo to invest in Latin American
bakery and snack startups
MEXICO CITY - Grupo Bimbo SAB de CV
announced the launch of Bimbo Open Door,
a business accelerator to invest in Latin
American bakery and snacks projects that
align with at least one of three pillars of the
company's sustainability strategy.
" Bimbo Open Door focuses on seeking,
developing and investing in startups and
scale-ups in the bakery and snacks sector,
whose projects stand out for their innovative
value propositions, sustainable practices
and business model, among others, "
the company said.
" We are a global company born in
Mexico more than 76 years ago as a small
company, " said Raúl Obregón, global director
of information and transformation at
Grupo Bimbo. " This time has allowed us
to learn and capitalize on many lessons
we are excited to share with the youngest.
With Bimbo Open Door, we want to
become an engine for the entrepreneurial
ecosystem, where we put into practice
models of shared success that promote new
talents and their great ideas. "
Bimbo said it designed Bimbo Open
Door to reach more than 20 countries in
Latin America, including Mexico, Colombia,
Chile and Argentina. The initiative
operates through Bimbo Ventures, the
company's business segment that, since
2017, managed four acceleration cycles
through its Bimbo Eleva and Bimbo Bakelab
platforms. Within these acceleration
cycles, the company said it received more
than 1,000 project proposals, of which
Grupo Bimbo collaborated with more
than 20 - through alliances of various
types - and invested in seven.
Participation in Bimbo Open Door will
require companies to have a product
validated by Bimbo, annual sales over
$300,000 and availability to participate in
the program. Applicants must be aligned
with at least one of the three pillars in its
sustainability strategy.
Bimbo identified one pillar, nutritional
diversity, as, " Baking or snack projects,
either sweet or savory, made with clean
label recipes or with inputs of vegetable
origin, such as plants and whole grains. "
The second pillar is environmental
Gold Standard Baking rebranded
as 37th Street Bakery
CHICAGO - 37 Baking Holdings, LLC,
a consortium of North American family
offices, has completed its acquisition and
rebranding of Gold Standard Baking, LLC,
North America's largest maker of croissants
and a leading manufacturer of doughbased
sweet baked foods. Financial terms of
the transaction were not disclosed.
Following the acquisition, Gold
Standard now is known as
37th Street Bakery, which
the company said represents
an homage
to its legacy bakery
facility on 37th Street
on Chicago's southwest
side.
" Today marks a
bakingbusiness.com
historic day in our journey, " said Haq
Chaudary, who continues his role as president
and chief executive officer. " We are
excited to complete the sale to a new ownership
group that is committed to supporting
our growth over the long term.
We enter this new chapter with a strong
balance sheet, a committed and highly
competent team, and a tradition of
producing delicious baked
goods. We are grateful
for our customers and
vendor partners who
have supported us
through this process,
but most importantly,
we appreciate the
commitment of our 300
care. Bimbo said applicants should be
baking or snack projects that consider
a sustainable supply of raw materials,
such as regenerative agriculture or those
that stand out for having waste control
programs, reduction of carbon emissions
and post-consumption actions, such as
recycling or circular economy.
The third pillar is impact on the community,
and Bimbo seeks portfolios that have a
brand with a purpose or a social benefit program
for foundations and communities.
Those startups and scale-ups the
company selects as finalists will enter a
16-week hybrid program where they will
receive mentoring from Bimbo executives
and managers, as well as the opportunity
to get to know the bakeries and innovation
centers in the company while working
on their projects. In the final stage of
the program, finalists will present the
results of their work to a forum of company
executives, Bimbo said.
The company is accepting registrations
through Bimbo Open Door until Aug. 22.
For this initiative, Bimbo has partnered
with Blue Box, a network of incubators,
accelerators and corporate investment
funds in Latin America. For more information
, companies may visit: https://
www.bimbo-opendoor.com/ MBN
plus valued and loyal team members.
" While we have a new name, we are
grounded in a deep passion to produce the
most delicious, buttery rich, flaky, golden
croissants, sweet fruit filled Danish, and
aromatic cinnamon rolls. "
Gold Standard filed for Chapter 11 on
June 22 and had sought approval to consummate
the sale to 37 Baking promptly.
" We are thrilled to complete the acquisition, "
said Tricor Pacific Capital and
13th Floor Capital, two investors in the
acquiring entity, in a joint statement.
" Haq Chaudary leads a capable and wellaligned
team, and the company operates
in a growing product category, in which
we have meaningful experience. "
Earlier in 2022 Gold Standard sold
its Pleasant Prairie, Wis., manufacturing
facility to Crown Bakeries. The
200,000-square-foot plant produces and
distributes laminated dough croissant
products. MBN
MILLING & BAKING NEWS 11
37TH STREET BAKERY
http://www.bakingbusiness.com

Milling & Baking News - August 23, 2022

Table of Contents for the Digital Edition of Milling & Baking News - August 23, 2022

Milling & Baking News - August 23, 2022 - Intro
Milling & Baking News - August 23, 2022 - 1
Milling & Baking News - August 23, 2022 - 2
Milling & Baking News - August 23, 2022 - 3
Milling & Baking News - August 23, 2022 - 4
Milling & Baking News - August 23, 2022 - 5
Milling & Baking News - August 23, 2022 - 6
Milling & Baking News - August 23, 2022 - 7
Milling & Baking News - August 23, 2022 - 8
Milling & Baking News - August 23, 2022 - 9
Milling & Baking News - August 23, 2022 - 10
Milling & Baking News - August 23, 2022 - 11
Milling & Baking News - August 23, 2022 - 12
Milling & Baking News - August 23, 2022 - 13
Milling & Baking News - August 23, 2022 - 14
Milling & Baking News - August 23, 2022 - 15
Milling & Baking News - August 23, 2022 - 16
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Milling & Baking News - August 23, 2022 - 19
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Milling & Baking News - August 23, 2022 - 21
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Milling & Baking News - August 23, 2022 - 28
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Milling & Baking News - August 23, 2022 - 47
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Milling & Baking News - August 23, 2022 - 50
Milling & Baking News - August 23, 2022 - 51
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Milling & Baking News - August 23, 2022 - 53
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Milling & Baking News - August 23, 2022 - 55
Milling & Baking News - August 23, 2022 - 56
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https://www.nxtbook.com/sosland/mbn/2016_12_20
https://www.nxtbook.com/sosland/mbn/2016_12_06
https://www.nxtbook.com/sosland/mbn/2016_11_22
https://www.nxtbook.com/sosland/mbn/2016_11_08
https://www.nxtbook.com/sosland/mbn/2016_10_25
https://www.nxtbook.com/sosland/mbn/2016_10_11
https://www.nxtbook.com/sosland/mbn/2016_09_27
https://www.nxtbook.com/sosland/mbn/2016_09_13
https://www.nxtbook.com/sosland/mbn/2016_08_30
https://www.nxtbook.com/sosland/mbn/2016_08_16
https://www.nxtbook.com/sosland/mbn/2016_08_02
https://www.nxtbook.com/sosland/mbn/2016_07_19
https://www.nxtbook.com/sosland/mbn/2016_07_05
https://www.nxtbook.com/sosland/mbn/2016_06_21
https://www.nxtbook.com/sosland/mbn/2016_06_07
https://www.nxtbook.com/sosland/mbn/2016_05_24
https://www.nxtbook.com/sosland/mbn/2016_05_10
https://www.nxtbook.com/sosland/mbn/2016_04_26
https://www.nxtbook.com/sosland/mbn/2016_04_12
https://www.nxtbook.com/sosland/mbn/2016_03_29
https://www.nxtbook.com/sosland/mbn/2016_03_15
https://www.nxtbook.com/sosland/mbn/2016_03_01
https://www.nxtbook.com/sosland/mbn/2016_02_16
https://www.nxtbook.com/sosland/mbn/2016_02_02
https://www.nxtbook.com/sosland/mbn/2016_01_19
https://www.nxtbook.com/sosland/mbn/2016_01_05
https://www.nxtbook.com/sosland/mbn/2015_12_22
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https://www.nxtbook.com/sosland/mbn/2015_11_24
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https://www.nxtbook.com/sosland/mbn/2015_10_27
https://www.nxtbook.com/sosland/mbn/2015_10_13
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https://www.nxtbook.com/sosland/mbn/2015_08_18
https://www.nxtbook.com/sosland/mbn/2015_08_04
https://www.nxtbook.com/sosland/mbn/2015_07_21
https://www.nxtbook.com/sosland/mbn/2015_07_07
https://www.nxtbook.com/sosland/mbn/2015_06_23
https://www.nxtbook.com/sosland/mbn/2015_06_09
https://www.nxtbook.com/sosland/mbn/2015_05_26
https://www.nxtbook.com/sosland/mbn/2015_05_12
https://www.nxtbook.com/sosland/mbn/2015_04_28
https://www.nxtbook.com/sosland/mbn/2015_04_014
https://www.nxtbook.com/sosland/mbn/2015_03_31
https://www.nxtbook.com/sosland/mbn/2015_03_17
https://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
https://www.nxtbook.com/sosland/mbn/2015_02_17
https://www.nxtbook.com/sosland/mbn/2015_02_03
https://www.nxtbook.com/sosland/mbn/2015_01_20
https://www.nxtbook.com/sosland/mbn/2015_01_06
https://www.nxtbook.com/sosland/mbn/2014_12_23
https://www.nxtbook.com/sosland/mbn/2014_12_09
https://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
https://www.nxtbook.com/sosland/mbn/2014_11_11
https://www.nxtbook.com/sosland/mbn/2014_10_28
https://www.nxtbook.com/sosland/mbn/2014_10_14
https://www.nxtbook.com/sosland/mbn/2014_09_30
https://www.nxtbook.com/sosland/mbn/2014_09_16
https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
https://www.nxtbook.com/sosland/mbn/2014_08_01
https://www.nxtbook.com/sosland/mbn/2014_07_22
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https://www.nxtbook.com/sosland/mbn/2014_06_24
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https://www.nxtbook.com/sosland/mbn/2014_05_27
https://www.nxtbook.com/sosland/mbn/2014_05_13
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https://www.nxtbook.com/sosland/mbn/2014_04_15
https://www.nxtbook.com/sosland/mbn/2014_04_01
https://www.nxtbook.com/sosland/mbn/2014_03_18
https://www.nxtbook.com/sosland/mbn/2014_03_04
https://www.nxtbook.com/sosland/mbn/2014_02_18
https://www.nxtbook.com/sosland/mbn/2014_02_04
https://www.nxtbook.com/sosland/mbn/2014_01_21
https://www.nxtbook.com/sosland/mbn/2014_01_07
https://www.nxtbook.com/sosland/mbn/2013_12_24
https://www.nxtbook.com/sosland/mbn/2013_12_10
https://www.nxtbook.com/sosland/mbn/2013_11_26
https://www.nxtbook.com/sosland/mbn/2013_11_12
https://www.nxtbook.com/sosland/mbn/2013_10_29
https://www.nxtbook.com/sosland/mbn/2013_10_15
https://www.nxtbook.com/sosland/mbn/2013_10_01
https://www.nxtbook.com/sosland/mbn/2013_09_17
https://www.nxtbook.com/sosland/mbn/2013_09_03
https://www.nxtbook.com/sosland/mbn/2013_08_20
https://www.nxtbook.com/sosland/mbn/2013_08-06
https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
https://www.nxtbook.com/sosland/mbn/2013_06_25
https://www.nxtbook.com/sosland/mbn/2013_06_11
https://www.nxtbook.com/sosland/mbn/2013_05_28
https://www.nxtbook.com/sosland/mbn/2013_05_14
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https://www.nxtbook.com/sosland/mbn/2013_04_16
https://www.nxtbook.com/sosland/mbn/2013_04_02
https://www.nxtbook.com/sosland/mbn/2013_03_19
https://www.nxtbook.com/sosland/mbn/2013_03_05
https://www.nxtbook.com/sosland/mbn/2013_02_19
https://www.nxtbook.com/sosland/mbn/2013_02_05
https://www.nxtbook.com/sosland/mbn/2013_01_22
https://www.nxtbook.com/sosland/mbn/2013_01_08
https://www.nxtbook.com/sosland/mbn/2012_12_25
https://www.nxtbook.com/sosland/mbn/2012_12_11
https://www.nxtbook.com/sosland/mbn/2012_11_27
https://www.nxtbook.com/sosland/mbn/2012_11_13
https://www.nxtbook.com/sosland/mbn/2012_10_30
https://www.nxtbook.com/sosland/mbn/2012_10_16
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https://www.nxtbook.com/sosland/mbn/2012_09_18
https://www.nxtbook.com/sosland/mbn/2012_09_04
https://www.nxtbook.com/sosland/mbn/2012_08_21
https://www.nxtbook.com/sosland/mbn/2012_08_07
https://www.nxtbook.com/sosland/mbn/2012_07_24
https://www.nxtbook.com/sosland/mbn/2012_07_10
https://www.nxtbook.com/sosland/mbn/2012_06_26
https://www.nxtbook.com/sosland/mbn/2012_06_12
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https://www.nxtbook.com/sosland/mbn/2012_04_17
https://www.nxtbook.com/sosland/mbn/2012_04_03
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https://www.nxtbook.com/sosland/mbn/2012_02_21
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https://www.nxtbook.com/sosland/mbn/2012_01_24
https://www.nxtbook.com/sosland/mbn/2012_01_10
https://www.nxtbook.com/sosland/mbn/2011_12_27
https://www.nxtbook.com/sosland/mbn/2011_12_13
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https://www.nxtbook.com/sosland/mbn/2011_10_18
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https://www.nxtbook.com/sosland/mbn/2011_09_20
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https://www.nxtbook.com/sosland/mbn/2011_08_23
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https://www.nxtbook.com/sosland/mbn/2011_07_26
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https://www.nxtbook.com/sosland/mbn/2011_06_28
https://www.nxtbook.com/sosland/mbn/2011_06_14
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https://www.nxtbook.com/sosland/mbn/2011_05_17
https://www.nxtbook.com/sosland/mbn/2011_05_03
https://www.nxtbook.com/sosland/mbn/2011_04_19
https://www.nxtbook.com/sosland/mbn/2011_04_05
https://www.nxtbook.com/sosland/mbn/2011_03_22
https://www.nxtbook.com/sosland/mbn/2011_03_08
https://www.nxtbook.com/sosland/mbn/2011_02_22
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https://www.nxtbook.com/sosland/mbn/2011_01_25
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https://www.nxtbook.com/sosland/mbn/2010_12_28
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https://www.nxtbook.com/sosland/mbn/2010_10_19
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https://www.nxtbook.com/sosland/mbn/2010_09_21
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https://www.nxtbook.com/sosland/mbn/2010_05_18
https://www.nxtbook.com/sosland/mbn/2010_05_04
https://www.nxtbook.com/sosland/mbn/2010_04_20
https://www.nxtbook.com/sosland/mbn/2010_04_06
https://www.nxtbook.com/sosland/mbn/2010_03_23
https://www.nxtbook.com/sosland/mbn/2010_03_09
https://www.nxtbook.com/sosland/mbn/2010_02_23
https://www.nxtbook.com/sosland/mbn/2010_02_09
https://www.nxtbook.com/sosland/mbn/2010_01_26
https://www.nxtbook.com/sosland/mbn/2010_01_12
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https://www.nxtbook.com/sosland/mbn/2009_09_22
https://www.nxtbook.com/sosland/mbn/2009_09_08
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https://www.nxtbook.com/sosland/mbn/2009_05_19
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https://www.nxtbook.com/sosland/mbn/2009_04_21
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https://www.nxtbook.com/sosland/mbn/2009_04_07
https://www.nxtbook.com/sosland/mbn/2009_03_24
https://www.nxtbook.com/sosland/mbn/2009_03_10
https://www.nxtbook.com/sosland/mbn/2009_02_24
https://www.nxtbook.com/sosland/mbn/2009_02_10
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https://www.nxtbook.com/sosland/mbn/2008_09_23
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https://www.nxtbook.com/sosland/mbn/2008_04_22
https://www.nxtbook.com/sosland/mbn/2008_04_08
https://www.nxtbook.com/sosland/mbn/2008_04_01
https://www.nxtbook.com/sosland/mbn/2008_03_25
https://www.nxtbook.com/sosland/mbn/2008_03_11
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https://www.nxtbook.com/sosland/mbn/2006_10_24
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https://www.nxtbook.com/sosland/mbn/2004_09_14
https://www.nxtbook.com/sosland/mbn/2004_09_07
https://www.nxtbook.com/sosland/mbn/2004_08_31
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