GEORGE WESTON ACQUIRES BESTFOODS BAKING
By Adnews Staff
Toronto-based George Weston Limited is buying Bestfoods Baking Company in the U.S. from Unilever for US$1.765 billion in cash. Bestfoods Baking's brands include Thomas' English muffins and bagels, Entenmann's sweet baked goods and Arnold, Freihofer, Brownberry and Oroweat breads. Weston's current baking operations in Canada include Weston Bakeries and Ready Bake The company's U.S. operations include Interbake, Maplehurst Bakeries and Stroehmann Bakeries. The sale is subject to regulatory approvals and is expected to close by mid-year. Also, as part of a plan to focus on its core baking businesses, George Weston intends to sell its dairy and fishing divisions, Neilson Dairy and Connors Bros. The company is also considering selling down its interests in Loblaw Companies Limited by 5%. It currently holds a 63% interest.