Canada Bread Co. Ltd., a subsidiary of Grupo Bimbo S.A.B. de C.V., has announced plans to close its bakery in St-Côme-Linière, Que., on May 19. Production of the facility’s bread will be transferred to other Canada Bread bakeries in Quebec, the company said.
While demand for gluten-free products is growing rapidly, the movement’s direct effects on the bread market to date have been limited, said Fred Penny, president of Bimbo Bakeries USA. The market for gluten-free products, a secondary share offering and the integration of the Canada Bread business were among topics discussed by executives of Grupo Bimbo S.A.B. de C.V., in addition… Read more »
Canada Bread Company, a subsidiary of Grupo Bimbo announced that it has completed the acquisition of the total shares outstanding of Saputo Bakery Inc. The Bakery will now operate under the company name of Vachon Bakery Incorporated.
At a special shareholder meeting April 3, the acquisition of Canada Bread Co. by Grupo Bimbo S.A.B. de C.V. was approved by Canada Bread shareholders.
Canada Bread posted a first-quarter loss citing declining volumes in its North American frozen bakery business but talked up improved performance in its UK bakery operations.