Toronto / CA. (gwl) George Weston Limited announced that its subsidiary Maplehurst Bakeries LLC has completed the purchase of Keystone Bakery Holdings LLC for total consideration of approximately 185 million USD. Keystone is a leading supplier of frozen baked goods to the in-store bakery and foodservice industries. Keystone is comprised of three operating companies: Freed´s Bakery of Manchester (N.H.), a leading supplier of frozen, thaw and sell iced cupcakes; Granny´s Kitchens, of Frankfort (NY), a leading supplier of both frozen pre-fried and frozen, thaw and sell donuts; and Heartland Baking of DuQuoin (IL), a specialty supplier of frozen, thaw and sell cookies.
W. Galen Weston, the Chairman and President of Weston, in announcing the transaction stated that «I am very pleased to welcome Keystone Bakeries and the employees of Freed´s, Granny´s and Heartland to the Weston Group. The combination of Keystone Bakeries and Weston´s baking operations in the United States and Canada will allow us to better serve our customers in the North American sweet baked goods sector».