Mexico's Grupo Bimbo in lead to buy Canada Bread, PE bidders drop out - Reuters
Grupo Bimbo, one of the world's largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co Ltd from majority owner Maple Leaf Foods Inc, people familiar with the matter told Reuters. Other parties involved in the auction of the roughly C$1.8 billion (US$1.64 billion) bakery company - including private equity firms KKR & Co LP and Bain Capital LLC, as well as U.S.-based Flowers Foods Inc - are no longer actively pursuing a deal, the sources said. Canadian food processor Maple Leaf said in October it would look to sell its 90 percent stake in Toronto-based Canada Bread, a maker of bread, rolls, bagels and sweet goods.
22 January 2014•2 mins read
