HUL Completes Sale of Modern Bakery Brand
FMCG major Hindustan Unilever (HUL) has completed sale of its bread and bakery business under 'Modern' brand to Everstone Group's Nimman Foods. “We wish to inform you that post completion of requisite formalities, the company has completed the transaction. Accordingly, the ”Modern“business stands transferred to Modern Food Enterprises Private Ltd,” HUL said in a BSE filing today. In September last year, HUL had announced that it will sell its bread and bakery business under 'Modern' brand to Everstone Group's Nimman Foods Pvt Ltd for an undisclosed sum. he business includes products such as cakes, muffins, buns, pavs and cream rolls.