Mexico City-based Grupo Bimbo, one of the world’s largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co. Ltd. from majority owner Maple Leaf Foods Inc., Toronto, according to the international news agency Reuters.
Other parties involved in the auction of the approximately $1.64 billion bakery company, including private equity firms KKR & Co. L.P., New York, and Bain Capital LLC, Boston, and Thomasville, Ga.-based Flowers Foods Inc., are reportedly no longer pursuing a deal.