Toronto / CA. (mlf) Canada Bread Company Limited announces that it has acquired U.K.-based craft bakery La Fornaia Limited for 18,75 million GBP (approximately 40 million CAD).
La Fornaia is a leading producer of a wide range of premium quality and hand-crafted breads, with annual sales of approximately 23 million GBP. The company employs approximately 300 people at its 54.000 square foot modern bakery plant in Park Royal, London, and markets its products to major retailers and foodservice companies throughout the United Kingdom and Europe.
«La Fornaia has a long-standing excellent reputation for producing hand-crafted bread products, using traditional methods and the finest ingredients, supported by a highly skilled workforce and strong innovation capabilities», says President and CEO Richard Lan from Canada Bread. «This acquisition will significantly expand our presence in the high-end artisan bread market and broadens the portfolio of products we can supply to our customers».
The La Fornaia acquisition increases Maple Leaf Bakery United Kingdom´s network of production facilities to seven and further solidifies its position as a leading specialty bakery in Britain. Maple Leaf Bakery U.K. produces a range of products, including bagels, croissants, in-store bakery, hand-held snacks and artisan breads, for its customers across the United Kingdom and in Europe.
Canada Bread Company Limited, which is 88 percent owned by Maple Leaf Foods Inc., is a leading manufacturer and distributor of fresh, frozen and par-baked bread, rolls and bagels, sweet goods and specialty pastas and sauces. Canada Bread markets products under leading brands, including Dempster´s, POM, Bon Matin and Olivieri in Canada and the New York Bagel brand in the United Kingdom.