Investments Into Argentina Continue But BMI Remains Cautious

Mexican bakery giant Grupo Bimbo has completed the purchase of Argentina's largest baking company, Fargo. Bimbo previously owned 30% of the firm and has received approval to take full control of the business, which generates revenue of around US$150mn, after selling off two brands to ease competition concerns. The move is one of several investments into Argentina's food and drink sector in recent months and this flurry of activity can be attributed to the country's strong consumer growth. However, BMI has persistently warned that the positive consumer story could come to an end as the significant imbalances in the economy

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