Bimbo targets Spanish waffle maker to deepen Mercadona supply deal
Mexico's Grupo Bimbo is negotiating to buy Punto Gofre, a move that would expand its private-label manufacturing strategy with Spain's largest grocery chain to reverse years of Iberian losses.
Grupo Bimbo is in advanced negotiations to acquire Punto Gofre, an Alicante-based waffle manufacturer. The target company produces classic and chocolate waffles exclusively for Mercadona’s Hacendado private label. If finalized, the transaction is expected to close in autumn 2026 through Bimbo’s subsidiary, Bakery Iberian Investments.
The potential acquisition underscores a deliberate shift in Bimbo's European strategy. Rather than competing for branded shelf space, the Mexican company is positioning itself as an industrial backbone for Spain’s dominant retailer. Mercadona controls roughly a quarter of the Spanish grocery market, making its supply chain a highly coveted asset for manufacturers seeking predictable, high-volume contracts.
This pivot to white-label production is a direct response to Bimbo's historical struggles in the region. Prior to this strategy, the company’s Spanish operations had accumulated €236 million ($269 million) in losses. By absorbing established suppliers that already hold Mercadona contracts, Bimbo trades thinner margins for guaranteed demand and operational scale.
The financial viability of this approach is already evident. After acquiring two factories from Cerealto Siro Foods in 2020 and 2021 to supply Mercadona with bread and pastries, Bimbo transformed into the retailer's primary baking partner. Consequently, the company's Europe, Asia, and Africa division saw revenues jump 13.2% to €428 million ($489 million) in a single recent quarter.
Adding Punto Gofre to the portfolio would introduce a new breakfast category to this manufacturing network. Founded in 1978 by Belgian entrepreneur Henry Monsieur, the waffle maker fits the exact profile Bimbo requires. It is a specialized producer already integrated into the grocer's private-label ecosystem, eliminating the marketing costs associated with building consumer brand loyalty.
No purchase price has been disclosed, and the transaction still requires regulatory approvals. However, the pursuit of Punto Gofre points to a structured, long-term commitment to the Iberian Peninsula as Bimbo's primary entry point for the European continent. Investors can expect the firm to continue acquiring established, Mercadona-aligned suppliers to quietly expand its share of Europe’s private-label bakery sector.
