DOWNERS GROVE, ILL. – Hearthside Foods Solutions, LLC. has signed an agreement to acquire the ambient assets, which includes the cookies, crackers, cones and wafers division of Weston Foods, Toronto, for C$370 million ($296 million). The acquisition includes six bakeries in North America.
The six plants are in North Sioux City, SD; Front Royal, Va.; Green Bay, Wis.; Somerset, Pa.; Columbus, Ohio; and Kitchener, Ont. Approximately 1,100 employees work at the plants.
“The Weston acquisition is an ideal complement to our existing production network and business, bringing baking capacity, a roster of premier customers, expanded capabilities, and enhanced geographic coverage,” said Chuck Metzger, chief executive officer of Hearthside Foods Solutions. “These synergies benefit our current and new customers alike. We look forward to welcoming Weston’s 1,100 employees into the Hearthside family.”
FGF Brands, Inc. announced in late October that it had reached an agreement to acquire Weston Foods’ fresh and frozen bakery businesses for $1.2 billion. The businesses serve retail and foodservice customers with packaged fresh bread and rolls as well as frozen and artisan bread and rolls, cakes, donuts, pies and alternatives throughout Canada and the United States. The company produces private label products and many well-known brands, including Wonder, Ace Bakery, Country Harvest, D’Italiano, Casa Mendosa, Dave’s Killer Bread and Gadoua.
"With the agreement to sell the ambient segment to Hearthside and our previously announced sale of the fresh and frozen businesses, we have two high-quality buyers that are well-positioned to carry on the proud legacy of the Weston Foods business," said Galen G. Weston, chairman and CEO of George Weston. "With the sale of the entire bakery business, George Weston will be focused on its market-leading retail and real estate businesses going forward."