Modern Food’s bread and bakery products are manufactured and marketed across India from its 40 manufacturing plants and to retail 80,000 outlets. Its Modern Bread brand controls over 35 percent of the market in India. Its owner Everstone Capital is reportedly in talks with Mexico’s $15 billion Groupo Bimbo for a possible investment or outright sale.
Grupo Bimbo sells bakery brand Harvest Gold in India, which it acquired in 2017.
The Modern Bread brand has a long and storied history in India. It was established by the government in 1965 as part of the “Colombo Plan” as Modern Bakeries and was rebranded as Modern Foods in 1982. Modern Foods was privatized in 2000, with its sale to Hindustan Unilever, the largest consumer company in India. In 2016, Hindustan Unilever sold it to Everstone Capital. Last year, Modern Foods had acquired National Capital Region -based Supreme Baker India, which sells Citi Fresh and Topsim Food brands. In 2018, Modern Food had acquired Chennai based Australian Foods India, which sells fresh baked cookies under the Cookie Man brand
