Mexico: Bimbo acquires Indian company Ready Roti

Mexican bakery firm Grupo Bimbo has acquired a 65% stake of the Indian company Ready Roti for an undisclosed amount.

The New Delhi-based maker of bread, pizza bases, as well as sweet and savory buns, operates in 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, with three facilities operating in the country and generating annual sales of about $11 million.

In April, Grupo Bimbo commented its plans of expansion in China in a short term with acquisitions, while also expanding in the rest of Asia and entering in Middle East markets.

Source: Food Business News/Reuters