Tuesday, November 16, 2021

Weston sells second half of bakery business

The Weston Group has sold the second half of its bakery business to Hearthside Food Services of Illinois for $370 million.

The bigger part of the business was sold earlier this month to FGF Brands Inc. for $1.4 billion.


Weston Group has said it plans to use the proceeds to reduce debt and to buy back shares.


It intends to concentrate on its Loblaws supermarkets, which includes Zehrs, Fortinos and T&T among others.