India bread industry believes Bimbo’s entry could spark more deals
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The Grupo Bimbo Mexican firm, the world's largest bakery products group, has moved into a new emerging market. Recently, Bimbo announced a move into a new, potentially sizeable market, India. It has acquired a 65% stake in Ready Roti India, a manufacturer of packaged bread, buns and pizza bases and owner of brands like Harvest Gold and Harvest Select. Logistical and supply chain issues make India's bakery industry challenging but some market watchers expect Bimbo's move to be followed by other multinationals attracted by the industry's growth. Batra argues Bimbo's acquisition in Ready Roti could be the spark for other similar deals in the sector.