The recent growth of Mexico’s economy can be attributed to Mexican businesses pouring resources into the United States economy and extending their reach to the growing Latino population in the U.S.
According to a recent articlein Univision News, solid economic policies and competitive currency have helped fuel Mexico’s industrial growth, and Mexican companies are following Latino immigrants into the U.S. and profiting.
Adam Thomson from the The Financial Times recently wrote that Mexican companies have spent billions of dollars in the US buying banks, broadcasting companies and building-material suppliers. The buying trend has gone largely unnoticed over the past five years, Thomson said.
Mexican telecoms, food, banking and retail companies are expanding due to this population growth, particularly the following companies:
*Bimbo Bakeries USA
Grupo Bimbo, started by selling Latino brands like Tia Rosa and Marinela to Hispanics in California in the late 1990s. The company bought Sara Lee in 2010 for $1 billion and became the largest bakery company in the U.S.
*América Móvil & Tracfone Wireless
Carlos Slim’s América Móvil bought Tracfone Wireless in 1999 and targeted Hispanics with pre-paid mobile services.
*Gruma SAB de CV
Gruma, the world’s largest tortilla maker, is the major producer of tortillas and wraps in the U.S. and has operations in China, the U.K., Central America and Venezuela. It operates 25 bakeries and flour mills in Texas, California, Indiana and Kentucky.
*Grupo Modelo
The Mexican brewer of Corona Extra, and Televisa, the Mexican media giant and minority stakeholder in Univision.