Everstone-led Modern Foods eyes larger food play

Everstone Capital-led Modern Foods Enterprises on Friday said it proposes to enter new food categories using organic and inorganic routes. The company is best known for Modern Bread, a brand launched in 1965. Everstone had acquired Modern Foods from Hindustan Unilever (HUL) in April 2016 for an estimated Rs 250 crore. The acquisition included not only the Modern trademark but also its manufacturing assets and people. The company has manufacturing plants at Mumbai, Chennai, Kolkata, Kochi, Bengaluru and Hyderabad.
 

Speaking to Business Standard, Rajev Shukla, managing director, private equity, Everstone Capital Asia, said the company would step into non-bread areas