Mexican baking company Grupo Bimbo has acquired Chile-based cakes, cookies and brownies manufacturer Alimentos Nutra Bien.

Financial details of the acquisition have not been disclosed by companies.

Grupo Bimbo CEO Daniel Servitje said: “We closed the year with record-breaking levels of net sales, gross profit, operating income and adjusted EBITDA, positioning us as a stronger and leaner company that will continue to create value and serve our consumers.”

“We closed the year with record-breaking levels of net sales, gross profit, operating income and adjusted EBITDA.”

The company said that the acquisition will increase its distribution network, as well as complement its existing portfolio.

The acquisition was announced in Grupo Bimbo’s recently published full-year results.

Grupo Bimbo’s sales increased by 7.8% in the last year due to the company’s 10.5% performance increase in Mexico and 4.5% growth in North America.

The company said that the acquisition of Bimbo QSR and Mankattan in China also contributed to the growth.

In July 2017, Grupo Bimbo signed a $650m agreement to acquire foodservice-focused company East Balt Bakeries (East Balt).

In the same year, the Mexican company opened its production plant and distribution centre in Tenjo, Colombia, with an $86m investment.

The facility featured four production lines for hamburger buns, snacks and puff-pastry.