Everstone sells Modern Foods to Mexican firm for undisclosed amount

Grupo Bimbo is the world's largest baking company, operating in 33 countries including India, and has a diversified portfolio of over 13,000 products and 100 brands

Private equity fund manager Everstone Capital today said that its bread and bakery platform Everfoods Asia, has sold Modern Foods to Moto Grupo Bimbo and its Indian subsidiary Ready Roti India. 

Grupo Bimbo 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.  

Everfoods acquired Modern from Hindustan Unilever in April 2016 and relaunched the iconic bread brand in June 2017 nationwide. 

Commenting on the transaction, Roshini Bakshi, Managing Director, Everstone Capital