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September 9, 2020

Grupo Bimbo ‘eyes majority of India’s Everfoods’

The Mexican bakery behemoth is reported to be in early talks over buying a majority stake in another business in India.

By Dean Best

Mexico-based bakery major Grupo Bimbo is reported to be in early discussions over acquiring a majority stake in Indian business Everfoods.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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Citing unnamed sources, The Economic Times has reported Bimbo is in preliminary talks with Everfoods’ owner, the private-equity firm Everstone Capital.

just-food has approached Bimbo and Everstone for comment. Neither had responded at the time of writing.

Everfoods is centred on Modern Foods, the Indian bakery business Everstone acquired from Hindustan Unilever, the global FMCG giant’s arm in the country, in 2015. Modern Foods markets a range of baked goods, ranging from bread to cakes and muffins.

Last year, Modern Foods, which has more than 40 factories in India, snapped up a majority stake in local peer Supreme Baker India.

Bimbo, which says it is the world’s largest bakery business, entered in India through the acquisition of a majority stake in local packaged bread group Ready Roti India, with brands including Harvest Gold.

The company’s only move to expand inorganically so far in 2020 was announced in February through the formation of a joint venture in Kazakhstan.

From the archive, June 2017: India bread industry believes Bimbo’s entry could spark more deals

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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