Canada Bread's Acquisition Approved By Canadian Regulator


News: Mexico-based bread company Grupo Bimbo's acquisition of Toronto-based baker Canada Bread has been approved by the Canadian Competition Bureau. Grupo Bimbo agreed to acquire Canada Bread for CAD1.83bn (US$1.66bn) in February 2014. The move will allow Grupo Bimbo to expand its North American operations. However, the deal is subject to approvals of the US Department of Justice and the Canadian Minister of Industry, which are expected to come in Q2, the company said.

This article is tagged to:
Sector: Food & Drink
Geography: Mexico, Canada

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