Industry News

Grupo Bimbo frontrunner to buy Canada Bread

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.

Purchasing Canada Bread, one of two dominant bakery companies in the U.S., would enable Bimbo to build on its U.S. acquisitions and strengthen the Mexican company’s position as the top bread maker in North America. In 2010, Bimbo acquired Sara Lee Corp.’s North American bakery business for $959 million. Last year, the company purchased Hostess Brands Inc.’s Beefsteak bread brand.

Discussions with Bimbo are continuing, and there is no guarantee the two sides will reach a deal, sources told Reuters. Other buyers may still step up, they added.

Maple Leaf, Canada Bread, KKR and Grupo Bimbo declined to comment, while Bain did not respond to a request for comment.

Source: Reuters

Did you enjoy this article? Click here to subscribe to Snack Food & Wholesale Bakery Magazine 

You must login or register in order to post a comment.



Image Galleries

POP Gourmet Foods

For the complete story on at POP Gourmet Foods, the 2015 Snack Food & Wholesale Bakery Snack Producer of the Year, see “POP Gourmet’s explosive momentum.”

4/14/15 3:00 pm EDT

Gluten Free: The Rising Growth Market

On Demand Our expert speakers address processing, labeling and food-safety aspects of Gluten-Free and prevailing and emerging trends in Gluten-Free product development specific to grain-based snacks and bakery

Snack Food & Wholesale Bakery Magazine

april cover

2015 April

April's Snack Food & Wholesale Bakery publication features our cover story: "Naturally better at RW Garcia" Plus our Tortilla Trends section!

Table Of Contents Subscribe

Breakfast Poll

Breakfast reportedly is the most important meal of the day. What does your daily breakfast consist of?
View Results Poll Archive


Organic Production and Food Quality: A Down to Earth Analysis

Effects of Organic Production on Food Quality is the first comprehensive book on how organic production methods influence the safety and quality of foods, based on an unbiased assessment of the latest scientific findings.  The title is a 'must-have' for everyone working within the food industry.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Facebook IconTwitter IconYoutube IconLinkedIn Icon

The Weekly Mix

Operations Weekly Logo

Written by Snack Food & Wholesale Bakery editors, our Operations Weekly weekly enewsletter provides bakers and snack food manufacturers with up-to-the-minute news, ideas and industry trends.

Sign up today!