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Grupo Bimbo acquires Canada’s Saputo
19 Dec 2014Grupo Bimbo has announced that its subsidiary Canada Bread is to acquire Saputo Bakery for CAD$120 million. Saputo Bakery is said to be the leading producer of snacks cakes in Canada. This operation will, said Grupo Bimbo, position Canada Bread for further growth in the country, complementing its current product portfolio and its distribution and manufacturing […]
Grupo Bimbo has announced that its subsidiary Canada Bread is to acquire Saputo Bakery for CAD$120 million.
Saputo Bakery is said to be the leading producer of snacks cakes in Canada. This operation will, said Grupo Bimbo, position Canada Bread for further growth in the country, complementing its current product portfolio and its distribution and manufacturing footprint. The acquisition includes brands such as Vachon, Jos Louis, Ah Caramel, Passion Flakie and May West, among others. The company employs more than 640 associates and operates one production facility in Quebec.
As a result of the due diligence completed by Canada Bread, the business is expected to generate annual sales of more thanCAD$130 million. The transaction is conditional upon receipt of customary regulatory approvals.
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