Weston unit closes Keystone Bakeries purchase
TORONTO — Maplehurst Bakeries, L.L.C., a subsidiary of George Weston Ltd., has completed its acquisition of Manchester, N.H.-based Keystone Bakeries L.L.C. for approximately $185 million. Keystone Bakeries is one of the largest independent companies supplying the in-store bakery and food service channels.
Keystone is comprised of three operating companies: Freed’s Bakery, Manchester, a supplier of fully finished iced cupcakes to the in-store bakery industry; Granny’s Kitchens, Frankfort, N.Y., a supplier of donuts to both the in-store bakery and food service industry; and Heartland Baking USA, DuQuoin, Ill., a specialty supplier of fully baked, ready-to-sell cookies.
“I am very pleased to welcome Keystone Bakeries and the employees of Freed’s, Granny’s and Heartland to the Weston Group,” said W. Galen Weston, chairman and president of Weston. “The combination of Keystone Bakeries and Weston’s baking operations in the United States and Canada will allow us to better serve our customers in the North American sweet baked goods sector.”