Modern Foods eyeing for local bakeries

Modern Foods eyeing for local bakeries

Modern Food Enterprises (MFEL) is looking at acquiring local bakeries in order to expand its reach as well as to achieve its revenue target by 2021.

“We are aiming to achieve revenues of Rs 1,000 crore by 2021, compared with around Rs 270 crore currently. This will be done through new launches in various segments, potential acquisition of local bakeries as well as geographical expansion in various regions in the country,” Modern Food chief executive officer and board member Aseem Soni said. “We plan to strengthen our presence in the states where we are already present, especially Maharashtra, Kerala, Tamil Nadu, Telangana, Karnataka and West Bengal — and expand our presence in white spaces in the north and west. We are also looking at entering non-bread segments including cakes, rusks and chapatis on a pan-India basis as soon as possible,” Soni added.


Meanwhile, MFEL has announced a comprehensive relaunch of its iconic Modern brand, with new brand positioning, new brand identity, fresh, vibrant and contemporary packaging and an enhanced portfolio of superior and healthier products. Everstone Group, a leading Southeast Asia and India focused private equity investor, had acquired Modern Food from Hindustan Unilever on April 1, 2016.


Modern’s relaunch has been crafted with intensive efforts over the last 12 months, with significant investments in manufacturing, as well as R&D at Modern’s new innovation hub in Chennai, coupled with thorough efforts on consumer insights, strategy and design.

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