Grupo Bimbo completed the acquisition of Modern Foods from Everstone Capital.

Grupo Bimbo, a large bakery company, completed the acquisition of Modern Foods, a producer of baked goods, from Everstone Capital, a private equity firm. Financial terms were not disclosed. "We had a phenomenal experience in rejuvenating the legacy brand of Modern and bringing it to the dining table of consumers again. Modern has unlocked its potential through its portfolio expansion and wider reach, thereby exhibiting tremendous growth. I wish Grupo Bimbo the best for the future and hope they continue to grow bigger and better," Roshini Bakshi, Everstone Capital Asia Managing Director.