Mexican bakery company Grupo Bimbo has entered into a joint venture with New Delhi company Ready Roti, which will help the organisation enter into the Indian market.
Bimbo has acquired 65% of the shares of Ready Roti, which produces bakery products such as bread, pizza bases, and pastries.
The Indian company generates annual sales of about $48 million and has four production plants with over 500 employees.
Expansion
Grupo Bimbo has operations in North and South America, Spain, the UK and China, but sees this acquisition as another opportunity for expansion.
"With this joint venture we are entering a new market, strengthening our presence in emerging markets and expanding the company's operations to 24 countries on four continents, in line with our vision," said Daniel Servitje, group president and general manager at Bimbo.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
