Friday, 26 February, 2021, 12 : 00 PM [IST]
Our Bureau, Mumbai
Everstone Capital reported that its bread and bakery platform Everfoods Asia, has sold Modern Food Enterprises Private Limited to Grupo Bimbo S.A.B. DE C.V. and its Indian subsidiary Ready Roti India Private Limited. It is the largest baking company in the world, operating in 33 countries, including India, and has a diversified portfolio of over 13,000 products and more than 100 renowned brands. The financial details of the transaction were not disclosed.
The company acquired the brand from Hindustan Unilever Limited In April 2016 and re-launched the iconic bread brand in June 2017 nationwide. The relaunch was crafted with intensive efforts and significant investments in manufacturing, research and development at the brandâs innovation hub in Chennai, coupled with thorough work on consumer insights, strategy and design.