Maple Leaf Foods Exploring Options for Canada Bread
Search

Maple Leaf Foods Exploring Options for Canada Bread

canada bread nfMaple Leaf Foods has announced that it is exploring strategic alternatives for its Bakery business, including a potential sale of the company’s 90% ownership interest in Canada Bread Company.

Canada Bread Company (CBY: TSX) is a manufacturer and marketer of flour based products, including fresh bread, rolls, bagels and sweet goods, frozen partially baked or par-baked breads and bagels, and specialty pasta and sauces. The company products are sold under a number of brand names including Dempster’s, Olafson’s, POM, Ben’s and Olivieri (www.canadabreadfoodservice.ca).

Maple Leaf has recently completed a review of opportunities to accelerate profitable growth across its global Bakery business. Before committing organizational focus, investment and resources to implement this strategy, Maple Leaf’s Board and management have decided to explore other strategic alternatives, including a sale of the company’s interest in Canada Bread, a process that is expected to conclude in early 2014.

“We are confident that our Bakery business can deliver significantly higher levels of profitable growth; the only question is how best to realize the future value of this business,” said Michael McCain, President and CEO. “The recently completed Bakery strategy will require organizational focus and resources to implement. This process gives us the opportunity to determine the best path forward for Maple Leaf, our shareholders and our Bakery business.”

Maple Leaf Foods (MFI: TSX) is a food processing company. The company is headquartered in Toronto and employs approximately 19,500 people at its operations across Canada and in the United States, the United Kingdom, and Asia (www.mapleleaf.ca).

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-28-13

To search in site, type your keyword and hit enter