Mexico’s largest food and bakery company, Grupo Bimbo has entered into the Indian market with the acquisition of a controlling stake in India’s bread and bakery products maker, Harvest Gold. The deal, which values Harvest Gold at around Rs. 340 crore ($50 million), will give Grupo Bimbo a 65% stake in the company. This is the first instance of a global company buying a controlling stake in an Indian bread and bakery manufacturer. The $13.5-billion Grupo Bimbo is present in 23 countries in America, Asia and Europe. With over 13,000 products such as fresh and frozen sliced bread, buns, cookies, cakes, bagels, pre-packaged foods and confectionery products among others, and over 100 brands, Grupo Bimbo is looking to expand in the growing Indian market now. Harvest Gold Industries operates various brands under various entities such as Ready Roti India, Food Magic India, Rhodanthe Foods and Mindscape One Marketing. These companies have a common management and are owned by the parent company.