Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
Wrapped in blue and orange wax paper, it's a familiar sight on the shelves of kirana stores across the country. Given how well travelled and mobile it is - starting its journey in Chennai, then turning to Singapore and now landing in Mexico - you could say it lives up to its name: Modern. Modern Food Enterprises, the company that manufactures and sells the bread in question as well as other bakery products under the "Modern" brand name, has recently been sold to the world's largest baking company, Grupo Bimbo, for an undisclosed amount. This latest transaction is the second change of guard at Modern within five years and third since the government divested the company at the turn of the century. At a time, when the National Democratic Alliance government has decided to privatise, or shut down, public sector enterprises except for those deemed strategic, Modern makes for a promising case study of how divestment led to the brand's growth, both in revenue and reach.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
San Francisco is a coastal megacity yet at times it can feel like a foggy hill station full of picturesque views, recalls Dinesh Raheja after visiting one of America's prettiest cities.
A stunning book on the Kumbh. And a recipe.
From festive breakfasts to iconic fish preparations, Parsi cuisine is a beautiful blend of sweet, sour and spicy traditions that have been passed down for generations. Explore the flavours, stories and culinary personalities behind each recipe which balances comfort, nostalgia and celebration in every bite
Let's work flat out and create a policy framework that fosters the growth of Indian non-family business VC and private equity firms. This will allow our Indian startups' dreams to flourish, explains Ajit Balakrishnan.
While the Syros shines in many areas, its ride quality is a point of contention, notes Rajesh Karkera.
A silky, creamy dessert made from milk and cream that melts in the mouth.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
With over 500 runs, six crucial catches, the most by an Indian on the tour, Rahul led by example and lived up to his wiseman tag.
Can Everstone overcome the challenges that previous owner HUL could not, as it tries to rebuild Brand Modern?
Stunning landscapes, natural beauty, clean beaches, cultural wealth, mouth-watering food, shopping options, safety for solo travellers, warm hospitality, easy visas, and connectivity make Vietnam a must-visit destination, discovers Ramesh Menon.
Though Zanjeer is credited as Amitabh's breakthrough film, it didn't immediately enthrone him. Rajesh Khanna countered with a huge hit in Daag that year. But Deewar upended audience's cinematic taste and filmland hierarchies at the very start of 1975. Bachchan emerged as a one man industry, the angry young man who could regulate the thermostat of the entire film industry, recalls Dinesh Raheja.
Competition-induced consumer awareness creates a virtuous circle of greater corporate responsibility
FMCG major Britannia Industries' results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) were received enthusiastically by the market with the share going up by 6.7 per cent on Monday to close at Rs 5,061.60 on the BSE. However, analysts said the results were in line with margins, and disappointing in terms of revenue growth. The consolidated net sales (excluding other operating income) rose 3 per cent year-on-year (Y-o-Y) to Rs 4,010 crore in Q4.
Uzbekistan lives comfortably in several centuries but is also a forward-looking nation, Deepa Gahlot discovers on a visit to this Central Asian country.
It seems that the West is sending a signal to India that it can return to old hostilities unless India toes their line on Russia. It is no surprise that India is being compared with Putin's Russia in terms of targeting 'dissidents' as the West calls these Khalistani terrorists, asserts Colonel Anil A Athale (retd).
Barnes School, Devlali, is famous for its dal. But everything tastes good in the hill station air and vintage locale.
Over the past year, Amul has undergone a transformative journey, evolving from a dairy-centric entity to a comprehensive foods company. Since 2022, PepsiCo India, too, has embarked on extensive launches in the food category. Not to be left behind, ITC, which has been introducing an average of 100 fast-moving consumer goods (FMCG) products across categories every year, has also launched a number of packaged food items.
They welcomed the guests before the start of the dinner from the reception dais, with its backdrop showcasing the ruins of the Nalanda University in Bihar besides India's G20 presidency theme -- 'Vasudhaiva Kutumbakam - One Earth, One Family, One Future'.
The grand dedication ceremony of Akshardham in Robbinsville, New Jersey was conducted on Sunday in the presence of Mahant Swami Maharaj following a nine-day celebration that commenced on September 30.
Packed frozen 'paratha' is not 'roti or chapatti' as it requires further cooking before consumption and despite wheat flour being the 'common thread' there are other ingredients used in making parathas, said an order by the Gujarat Appellate Authority for Advance Ruling. Such parathas, whether named Malabar, Mixed vegetable, Onion, Methi, Alu, Laccha, Mooli or Plain, have ingredients like margarine, salt, emulsifying agent, oil, potato, peas, cauliflower, coriander powder, bread improver and water, apart from wheat flour, which make 'quite different' from plain roti or chapatti and hence are not eligible for 5 per cent Goods and Services Tax (GST) rate, the ruling said. The percentage of wheat flour used by Vadilal Industries, which had approached the AAAR, in the eight varieties of paratha manufactured and supplied by it ranges from 36-62 per cent, whereas the ingredient for plain roti or chapatti is wheat flour apart from water.
Hope this film would be able to teach Indians the value of their rights and the perils of exchanging those for 'economic development' or promises of a better future by some populist leader, notes Utkarsh Mishra.
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
Have a special dish that you have been cooking every Christmas?
Bangalore Connection 1888 tries to reclaim a piece of the city's past.
Or, what will the Indian policy process allow it to be, says Ajit Balakrishnan.
Things may seem too nice to be tru,e but the affable energy of its harmonious cast makes Potluck a rare light watch on the desi OTT scene, feels Sukanya Verma.
A tribal-dominated state, Mizoram has the second highest literacy rate in the country -- after Kerala -- but it has lately become a state where crimes against children have increased.
Persuaded not to sell that day in January 1975, DLF today has assets of over Rs 52,237 crore and a net worth of around Rs 40,000 crore.
On World Sparrow Day, Rediff readers sent us these beautiful images of sparrows.
In a career spanning nearly three decades, Floyd Cardoz has always drawn on food memories to create a new culinary language.
Water is going to be a central part of the government's 2024 election campaign. And Gajendra Singh Shekhawat's work will be crucial for it.
>Gadgets that make kitchen work easier and faster have gained momentum in the lockdown.
During his 37 year rule, the nation's lush fields became wastelands, disease and hunger became rampant and the economy registered a negative growth of six per cent.
As Melania Trump arrives in Ahmedabad, Sheela Bhatt offers the First Lady Of The United States a primer on one of India's oldest, and historic, cities.
