Mexican bakery firm Grupo Bimbo has acquired a 65% stake in the Indian company Ready Roti for an undisclosed amount.
The New Delhi-based maker of bread, pizza bases, as well as sweet and savoury buns, operates four plants, generating annual sales of around $48 million.
“This acquisition represents Grupo Bimbo’s entry to the Indian market, strengthening its presence in emerging markets, in line with its vision”, Grupo Bimbo said.
Grupo Bimbo recently also entered in the African market through the acquisition of the Moroccan company Grupo Adghal, which operates three facilities in the country and generates annual sales of about $11 million.
Source: Food Business News / Reuters