Maple Leaf's Olivieri to be sold to PE-backed Ebro Foods for $120 mln
Canada Bread Company Ltd, an affiliate of Toronto-based food processor Maple Leaf Foods Inc (MFI: TSX), has agreed to sell its fresh pasta and sauce business Olivieri Foods to Ebro Foods SA for $120 million. The transaction is expected to be completed by the end of 2013. Maple Leaf, which is backed by West Face Capital, earlier this week flagged a strategic interest in the sale of its majority stake in Canada Bread. Ebro Foods, a Madrid, Spain-based food group operating in the rice, pasta and sauces sectors, is a portfolio investment of Spanish private equity firm Corporación Financiera Alba.
25 October 2013•3 mins read
