MEXICO CITY, MEXICO — Grupo Bimbo, SAB de CV on Dec. 5 announced it has completed its acquisition of Sara Lee Corp.’s fresh bakery business in Spain and Portugal for €115 million ($154 million).

First announced on Oct. 10, the transaction includes bread, pastries and snacks produced under the Bimbo, Silueta, Ortíz, Martinez and Eagle brands, among others. The business includes more than 1,900 employees, seven production facilities and more than 800 distribution routes.

“This acquisition positions Grupo Bimbo as the leading branded bread company on the Iberian Peninsula and enhances the company’s international growth with a strong and established bakery business,” Grupo Bimbo said.

Grupo Bimbo said the financial results of the Spain and Portugal fresh bakery business will be included in its consolidated results starting on Dec. 4.