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
