View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 29, 2021

Grupo Bimbo makes Kitty Bread latest India acquisition

The Mexican giant has made its third acquisition in India.

Grupo Bimbo has again moved to add its presence in India through M&A, snapping up local firm Kitty Bread.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

The Mexico-based giant disclosed the acquisition alongside the publication of its third-quarter financial results yesterday (28 October). Terms were not released.

Bimbo described Kitty Bread, based in the city of Ludhiana in Punjab state, as “the number two bread manufacturer in northern India”.

In a brief statement, Bimbo said: “Kitty Bread produces white, brown, whole wheat and fruit bread, among other products in a strategic located facility. This acquisition complements Grupo Bimbo’s current product portfolio, and it enhances its presence in India and long-term view in the country.”

Eight months ago, Bimbo snapped up Indian bakery business Modern Foods from private-equity firm Everstone Capital. Modern Foods markets a range of baked goods, ranging from bread to cakes and muffins.

Bimbo, which says it is the world’s largest bakery business, entered India in 2017 through the acquisition of a majority stake in local packaged bread group Ready Roti India, with brands including Harvest Gold.

The purchase of Kitty Bread was not the only new deal disclosed by Bimbo in its earnings report. US popcorn maker Popcornopolis is to join the Bimbo stable after an acquisition was struck for an undisclosed sum.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food