Hindustan Unilever Ltd (HUL) Completes Sale Of Its 'Modern Bakery' Brand Monday April 04,2016

Hindustan Unilever Ltd (HUL) has completed sale of its bread and bakery business under 'Modern' brand to Everstone Group's Nimman Foods Pvt Ltd.

"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 on Monday April 04,2016

In September 2015, 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.

"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," the company had informed BSE.