Everstone’s bread and bakery platform Everfoods Asia, predominantly consists of Modern Bread brand that Everstone had acquired from Hindustan Unilever in 2016. It additionally contains different manufacturers comparable to Cookie Man.
ET first reported on 8 September in regards to the potential deal between Everstone and Grupo Bimbo.
Grupo Bimbo is the most important baking firm on the earth, working in 33 international locations, together with India, and has a diversified portfolio of over 13,000 merchandise and greater than 100 famend manufacturers.
Its widespread manufacturers embrace Entenmann’s, Bimbo, Tia Rosa, Marinela, Barcel, Sara Lee, Oroweat and Arnold Bread. At current, Grupo Bimbo sells bakery brand Harvest Gold in India, which was acquired in 2017 as a part of its India entry.
With a income of Rs.400 crore, Modern bread holds about 35-40% market share in Indian bread market.
Modern Foods competes with different bakery manufacturers comparable to , Harvest Gold, Nature’s Own and English Oven.
Modern Foods operates by way of a distribution community which covers 80,000 plus retailers throughout the nation.
Last yr, Modern Foods had acquired National Capital Region -based Supreme Baker India, which sells Citi Fresh and Topsim Food manufacturers. In 2018, Modern Food had acquired Chennai primarily based Australian Foods India, which sells recent baked cookies below the Cookie Man brand.
The Bakery business in India, below the most important classes of bread, biscuits, and truffles & pastries, is valued at $8 billion. The business is rising at a median charge of 10 per cent since 2015. There are about 2,000 organised bakeries and greater than 10 lakh unorganised small-scale bakeries working in India.
Besides Everfoods, Everstone additionally owns F&B Asia Ventures Ltd, a pan-Asian platform within the meals and beverage area. It owns and operates main manufacturers comparable to Burger King (India and Indonesia) and Domino’s (Indonesia), Masala Library, Farzi Café, Pa Pa Ya, Masala Bar, Harry’s, Pind Balluchi, and Duck & Rice.
Founded in 2006 by former Goldman Sachs bankers Sameer Sain and Atul Kapur, Everstone Capital at present manages $4 billion of property below administration.