Mexican Grupo Bimbo All Set For Indian Venture

Indians, prepare your taste buds to experience the real flavor of Mexican pastry.

Grupo Bimbo, leader of  world baking industry is all set to create a niche in the Indian markets. Recently, they have signed a joint venture agreement with the country’s leading baker Harvest  Gold .

Harvest  Gold 

Founded in 1993, promoted  by Mr  Adil Hassan , chemical engineer  by profession  . The first bread plant was set up  in Bhiwadi , Rajasthan  with initial invest ment  of  Rs 1.0 Crore .This baking company has set a benchmark for itself with its un compromising product quality. Very much popular in the areas surrounding the peninsular capital, Delhi, Harvest Gold  has already other associates  such as  Ready Roti India, Food Magic India, Rhodanthe Foods and Mindscape One marketing . Annually, the company has a turnover of about USD 48 million. More than 500 associates are involved in the production of packaged bread, pizza bases, sweet and savory buns.

Group Bimbo - a quick intro

Present in almost 24 countries in America, Asia, Africa and Europe, Bimbo has more than 13000 products to its credit. Considering the aspects of brand positioning in terms of volume and sales, Bimbo has been an indisputable leader in Mexico, Latin America and the United States.Owns  around 100 brands world over 

Ready, Steady, Go

Now, it is all set to create portfolio in the land of rich culture by holding 65% stake with Harvest Gold India Private limited worth  Rs 340  crore .

What’s the use?

By this joint venture, Indian taste buds are sure to experience an authentic Mexican delight. Also, the company gets to enter a new market and capture the hearts of Indians, in line with the vision of the company.Its first of any takeover  where an mnc  has  bought stake in Indian bread manufacturing unit.

The happy news is that, Harvest Gold will soon be a part of the Organization Europe, Asia and Africa.As per a recent research report, the Indian bread industry has increased to 9% in three years and has an estimated value of INR 3300 crore. In the next five years, the industry might grow at a CAGR of 10%, which would yield a turnover of INR 5300 crore.Major player in bread  industry are  Britannia Industries Ltd and Modern Foods . 

News source  : Various business magazine