Indian arm of Mexican company buys Modern Foods

Indian arm of Mexican company buys Modern Foods
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Indian arm of Mexican company buys Modern Foods
TNN / Updated: Feb 25, 2021, 13:26 IST
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(Representative image)
CHENNAI: Modern Foods, the company behind the iconic bread and bakery brand ‘Modern’ breads — is changing hands once again.
Singapore-based private equity firm Everstone Capital has sold Modern Foods to Mexico’s Grupo Bimbo and its Indian subsidiary Ready Roti India. The financial details of the deal were not disclosed. Grupo Bimbo, the world’s largest baking company, operates in 33 countries, including India, and has a portfolio of over 13,000 products and more than 100 brands.
Everstone, through its bread and bakery platform Everfoods Asia, acquired Modern from Hindustan Unilever (HUL) in 2016 and gave the brand a face lift, relaunching it in 2017.

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