Bread brand Modern Foods bought by Mexico s Grupo Bimbo
Modern bread holds around 35-40 per cent market share of the Indian bread market with a revenue of Rs 400 crore. Modern Foods competes with other bakery brands such as Harvest Gold, English Oven, Nature s Own and Britannia
BusinessToday.In | February 25, 2021 | Updated 18:12 IST
Iconic bread brand Modern Foods has been bought by Mexico s largest food and bakery company Grupo Bimbo from homegrown private equity fund Everstone Capital. Everstone had acquired the brand from Hindustan Unilever in 2016. Everstone s bread and bakery platform Everfoods Asia consists of Modern Bread brand as well as others like Cookie Man.