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Article: Bimbo to acquire Weston's western U.S. baking business. (News Wire).(Grupo Bimbo, George Weston Ltd.)(Brief Article)
- Article from:
- Snack Food & Wholesale Bakery
- Article date:
- January 1, 2002
CopyrightCOPYRIGHT 2002 BNP Media. 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)
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Grupo Bimbo, Mexico's largest wholesale baking company, took a major step in its long-term strategic goal to be one of the largest baking companies in the United States after it announced late this month that it had reached an agreement to acquire the western U.S. baking business of George Weston Ltd. for a total purchase price of $610 million.
When the deal, which is subject to regulatory approval, is completed, Bimbo will become one of the nation's largest wholesale baking companies with an estimated $1.2 billion in annual sales. Bimbo operates its U.S. businesses under its Fort Worth, Texas-based Bimbo Bakeries U.S.A. division. The company expects the ...