Business
George Weston Limited announces the Closing of the sale of its Weston Foods Fresh and Frozen Businesses
George Weston Limited announces the Closing of the sale of its Weston Foods Fresh and Fro...
About this update from George Weston Limited
[{"type":"text","content":"\n \n \n \n George Weston Limited announces the Closing of the sale of its Weston Foods Fresh and Frozen Businesses\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 10, 2021\n \n /CNW/ - George Weston Limited (\"George Weston\" or the \"Company\") (TSX: WN) today announced the closing of the previously announced sale of its Weston Foods fresh and frozen bakery businesses to affiliated entities of FGF Brands Inc. (\"FGF\").\n \n \n \n \n \n \n \n \n \n Prior to closing,\n \n George Weston\n \n and FGF agreed on a revised purchase price of\n \n $1.1 billion\n \n for the transaction, as well as certain other amendments, including an adjustment to the working capital provisions as a result of seasonal fluctuations in inventory and accounts receivable.\n \n \n \n George Weston\n \n continues to work toward completing the previously announced sale of its ambient bakery business – comprised of cookies, cones, crackers and wafers – to affiliated entities of Hearthside Food Solutions, LLC.\n \n \n \n About Weston Foods' Fresh and Frozen Bakery Businesses\n \n \n \n The Weston Foods fresh and frozen bakery businesses comprise a leading North American manufacturer, serving retail and foodservice customers with packaged fresh bread and rolls and alternatives, as well as frozen and artisan bread and rolls, cakes, donuts and pies throughout\n \n Canada\n \n and\n \n the United States\n \n . The company produces private label products and many well–known brands including Wonder®, ACE Bakery®, Country Harvest®, D'Italiano®, Casa Mendosa™, Dave's Killer Bread* and Gadoua®.\n \n \n \n About George Weston Limited\n \n \n \n George Weston Limited is a Canadian public company founded in 1882. The Company operates through its two reportable operating segments, Loblaw Companies Limited and Choice Properties Real Estate Investment Trust. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mob...