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Mexico's Bimbo enters India with 65 percent stake in Ready Roti
May 25, 2017 / 1:49 PM / 6 months ago

Mexico's Bimbo enters India with 65 percent stake in Ready Roti

MEXICO CITY (Reuters) - Mexican breadmaker Grupo Bimbo said on Thursday it has entered the Indian market through a joint venture to acquire 65 percent of shares in Indian’s Ready Roti India Private Limited.

Advertising of Mexican breadmaker Grupo Bimbo is seen in Mexico City March 24, 2015. REUTERS/Edgard Garrido/Files

The Mexican company, which moved into the African market last month with the purchase of Morocco-based Adghal, did not disclose the cost of the deal.

In April, Bimbo said it plans to grow in China in the short term with acquisitions, while also expanding in the rest of Asia and entering Middle Eastern markets.

Reporting by Veronica Gomez Editing by W Simon

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