TORONTO, Sept. 24 /PRNewswire-FirstCall/ - George Weston
Limited ("Weston") (TSX: WN) announced today that its subsidiary,
Maplehurst Bakeries, LLC ("Maplehurst"), has completed the purchase
of Keystone Bakery Holdings, LLC ("Keystone") for total
consideration of approximately US $185
million. Keystone is a leading supplier of frozen baked
goods to the in-store bakery and foodservice industries. Keystone
is comprised of three operating companies: Freed's Bakery of
Manchester, N.H., a leading
supplier of frozen, thaw and sell iced cupcakes; Granny's Kitchens,
of Frankfort, NY, a leading
supplier of both frozen pre-fried and frozen, thaw and sell donuts;
and Heartland Baking of DuQuoin, IL, a specialty supplier of
frozen, thaw and sell cookies.
W. Galen Weston, the Chairman and
President of Weston, in announcing the transaction stated that "I
am very pleased to welcome Keystone Bakeries and the employees of
Freed's, Granny's and Heartland to the Weston Group. The
combination of Keystone Bakeries and Weston's baking operations in
the United States and Canada will allow us to better serve our
customers in the North American sweet baked goods sector."
George Weston Limited is a Canadian public company founded in
1882 and through its operating subsidiaries constitutes one of
North America's largest food
processing and distribution groups. Weston has two reportable
operating segments: Weston Foods and Loblaw, which is operated by
Loblaw Companies Limited. The Weston Foods operating segment is
primarily engaged in the baking industry within North America. Loblaw is Canada's largest food distributor and a
leading provider of general merchandise, drugstore and financial
products and services.
SOURCE George Weston Limited
Copyright . 24 PR Newswire
