Weston Foods, a Canadian bakery company, is being put up for sale by a parent company that prefers to concentrate elsewhere.
Weston Foods, a Canadian bakery company, is being put up for sale by a parent company that prefers to concentrate on its two other major sectors: real estate and food retailing.
George Weston Ltd. announced its intention to sell Weston Foods in a press release March 23. Weston Foods includes bread brands like ACE Bakery, Country Harvest, and Dave’s Killer Bread (the last under license from Flowers Foods). It had sales of about $1.8 billion (U.S.) and profits of $159 million last year.
“Despite its position as a leading North American bakery, Weston Foods remains a small part of GWL's overall value,” the statement says. “In the absence of attractive opportunities to increase its relative scale within the Company, the Board believes that a sale represents the best opportunity to unlock its growth potential.”
Sales for Weston Foods amounted to about 3.7% of the total revenue for George Weston Ltd. Its retail division, which includes the Loblaw’s supermarket chain, accounted for 94% of total revenue.
Navigating the logistics industry is challenging. Find out how a dedicated transportation solution can solve some of the most common shipping challenges.
A leading bottled water company needed a carrier to transport water from 29 plants to retailers. The challenge? Handling over 46,000 pounds. Read the study.
Learn how a large bakery company complimented their private fleet with Schneider Dedicated freight services to increase freight capacity, amplify visibility & reduce costs.
