Grupo Bimbo to acquire Canada Bread for $1.83 billion
Canada Bread Co. Ltd., Toronto, announced today that it is being acquired by Grupo Bimbo, S.A.B. de C.V., Mexico City, for $1.83 billion, pursuant to an arrangement agreement between the two companies.
“This is an excellent outcome for our bakery businesses and shareholders,” says Richard Lan, president and CEO. "Becoming part of Grupo Bimbo, the world's leading bakery company and benefiting from its focus, expertise and resources, will create new opportunities for our people, customers and business partners.”