Hindustan Unilever, the FMCG giant's Indian arm, is to sell its bakery unit in the country to private-equity firm Everstone Capital.

The deal, announced today (8 September), will see HUL offload a business that includes the Modern bread brand. The division also sells products including cakes and muffins under the brand. It has six plants and a network of franchisees across India.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

HUL said the move was part of its strategy to "exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business"

Sanjiv Mehta, the CEO and managing director of HUL, added: "Since its acquisition in 2000, HUL has strengthened the Modern business, driven consistent top-line growth and significantly improved profitability. Having turned around the business and built a sustainable growth model, we believe that the sale to Everstone will unlock the full potential of the Modern brand."

Financial details were not disclosed.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now