George Weston: completes sale of U.S. fresh baking assets

Toronto / CA. (gwl) Canadian George Weston Limited announced that its subsidiary Dunedin Holdings completed the sale of its fresh bread and baked goods business in the United States to Mexican Grupo Bimbo. The gross and net cash proceeds of the sale are approximately 2,5 billion USD, including around 125 million USD of interest bearing assets. George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America´s largest food processing and distribution groups. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. The Weston Foods operating segment is primarily engaged in the baking industry within North America. Loblaw is Canada´s largest food distributor and a leading provider of general merchandise, drugstore and financial products and services.