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Subscribe Grupo Bimbo celebrates 75th anniversary with record results, unwavering commitment and an energised position for the future By Gill Hyslop 2020 was a remarkable year for Grupo Bimbo - Daniel Servitje, chairman and CEO. The world’s largest bakery company posted outstanding financial results, reported significant market share gains, was recognised as one of the world’s most ethical companies for the fifth consecutive year and increased its global use of renewable electricity from 49% to 80%. The Mexican bakery giant also signed an agreement with Cerealto Siro Foods to acquire a production plant in Medina del Campo, Spain, and acquired Modern Foods, a leading player in the baking industry in India. ....
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. ....
Indian arm of Mexican company buys Modern Foods Top Searches Indian arm of Mexican company buys Modern Foods TNN / Updated: Feb 25, 2021, 13:26 IST FacebookTwitterLinkedinEMail (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. ....
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. ....
Updated Feb 25, 2021 | 11:02 IST Grupo Bimbo is the largest baking company in the world, operating in 33 countries, including in India, and has a diversified portfolio of over 13,000 products and more than 100 brands. Mexican baking major Grupo Bimbo buys bread brand Modern Foods from Everstone. (Photo courtesy: company website) Mumbai: Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum. Everstone in a statement on Wednesday said that Modern Food Enterprises, which was held by its bread and bakery platform Everfoods Asia, was sold to Ready Roti India, the domestic subsidiary of the Mexican major. ....