MCGAVIN SET TO BUY VENICE
By Adnews Staff
McGavin Foods of Vancouver has signed a letter of intent to buy Venice Bakery of Vancouver. Venice specializes in hearth rye, French bread and rolls. McGavin's sells pan bread and rolls through grocery stores. Neither company will comment on the deal. Nor will corporate spokespersons say who handles advertising for each company and who will handle it if the deal goes through. Venice is owned by Gai's Seattle French Baking Co, a subsidiary of U.S.-based Specialty Foods Corp. The Vancouver bakery is Specialty's only Canadian operation. Gai's is selling the company to focus on the U.S. market, Specialty president Paul Liska says in a release. Specialty owns a group of diversified food companies specializing in wholesale baking, specialty cheese, cookies, snacks and prepared meat. McGavin is owned by Corporate Foods Ltd., which is 69% owned by Toronto-based Maple Leaf Foods. It makes baked goods which its sells under its own name name and to stores which retail the products as private label brands.