Mexico’s Grupo Bimbo Eyes Majority Stake in Modern Foods Business

Mumbai: Mexico’s largest food and bakery company, Grupo Bimbo is in preliminary discussions to acquire a majority stake in Everfoods, the packaged foods platform owned by private equity firm Everstone Capital, two people aware of the development said.

Everfoods predominantly consists of once cult Modern Bread brand that Everstone had acquired from Hindustan Unilever in 2015 along with the bread and bakery business. It also includes other brands such as Cookie Man.

One among the largest baking companies in the world, Grupo Bimbo has presence in 33 countries, selling its 100 plus brands such as Entenmann’s, Bimbo, Tia Rosa, Marinela, Barcel, Sara Lee, Oroweat and Arnold Bread. At present, Grupo Bimbo sells bakery brand Harvest Gold in India, which was acquired in 2017 as part of its India entry.

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