Grupo Bimbo S.A.B. de C.V. has acquired a 65% stake in Ready Roti India Private Ltd., a New Delhi, India-based maker of bread, pizza bases, and sweet and savory buns. Financial terms of the acquisition were not disclosed.
Ready Roti operates four plants, has more than 500 employees and generates annual sales of approximately $48 million. The company’s brands include Harvest Gold and Harvest Selects.
“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. “The results of this new operation will be included in the EAA (Europe, Asia and Africa) region.”
In late April, Bimbo entered the African market through the acquisition of Grupo Adghal. Based in Morocco, Grupo Adghal operates three plants, has more than 200 employees and generates annual sales of about $11 million. The company primarily makes sweet baked foods and cakes under the Belle, Chapela, Rosco and Roscao brand names. Like Ready Roti, Grupo Adghal’s results will be included in the company’s EAA region.
By Eric Schroeder
Source: Food Business News
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