|
|
Article: Mexico-Based Grupo Bimbo Buys Division, Bakeries from Canadian Conglomerate.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 23, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Sandra Baker, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Jan. 23--FORT WORTH, Texas--Mexico-based Grupo Bimbo, the owner of Mrs Baird's in Fort Worth, has acquired the Oroweat division and five bakeries of Toronto-based food conglomerate George Weston Ltd.
Grupo Bimbo executives said the acquisition will double its annual U.S. sales to nearly $1.2 billion and place it among the nation's top four bakeries.
"This acquisition fits perfectly with our vision of creating a pre-eminent baking business in the United States," said Grupo Bimbo Chief Executive Daniel Servitje in a prepared statement.
Bimbo will pay ...