Grupo Bimbo Acquires Canada Bread for $1.83 Billion
|Areas||Corporate and Commercial, Employment and Labour, Litigation, Tax|
Goodmans represented the Special Committee of Maple Leaf Foods Inc. (Maple Leaf) in connection with Maple Leaf's sale of its 90% interest in Canada Bread Company Limited (Canada Bread) as part of the $1.83 billion all cash acquisition of Canada Bread by Grupo Bimbo, S.A.B. de C.V. (Grupo Bimbo). The transaction was completed by way of a plan of arrangement and closed on May 23, 2014.
Maple Leaf is a leading consumer packaged food company, headquartered in Toronto with operations across Canada and in the United States, United Kingdom, Asia and Mexico.
Canada Bread is a leading manufacturer and marketer of value-added flour based products, including fresh bread, rolls, bagels and sweet goods, frozen partially baked or par-baked breads and bagels, and specialty pasta and sauces. Canada Bread markets products under a number of leading brand names, including Dempster’s®, Olafson’s, POM®, Ben’s® and Olivieri®.
Grupo Bimbo is one of the world’s largest bakeries, with 148 plants and over 1,600 distribution centers strategically located in Mexico, the United States, Latin America, Iberian Region and Asia. Grupo Bimbo has more than 100 prestigious trademarks, including: Bimbo, Marinela, Arnold, Oroweat, Brownberry, Thomas’, Sara Lee, Barcel, Entenmann’s, Tia Rosa, Mrs Baird’s, Ricolino, Pullman, among others.