"We are planning to introduce non-bread items like cakes, rusks, cookies, biscuits and buns. This will be done under the Modern brand", Aseem Soni, CEO and board member of Modern Food said.
He said that the present turnover of the company from the bread business is Rs 270 crore which is targeted to touch Rs 1000 crore by 2021.
Soni said that Modern was the market leader in the organised bread segment, adding that the company was looking at a revenue growth of 25 per cent in the current fiscal.
Modern had already started selling chapatis and parathas in the south Indian markets of Kerala, Bangalore and Tamil Nadu.
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Everstone had acquired Modern from Hindustan Unilever in April 2016.
Managing director of Everstone Capital Roshini Bakshi said that Modern was now poised to grow as the building blocks had been put in place.
She said that Everstone would exit Modern through an IPO, adding that typical investment horizon was five to 10 years.
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