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Hindustan Unilever Ltd (HUL) has concluded the sale of its bread and bakery business under ‘Modern’ brand to Everstone Group’s Nimman Foods Pvt Ltd.
HUL has said in a BSE filing that “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, in September last year, announced the sell of its bread and bakery business under ‘Modern’ brand to Everstone Group’s Nimman Foods Pvt Ltd for an undisclosed amount.
The company has informed to BSE that “HUL’s decision to divest is in line with its strategy to exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business.”
