Weston's ambient business provides retail and food service customers in
George Weston announced in March its intention to sell its bakery segment and to focus on its retail and real estate businesses.
In October, the company reached a deal to sell its fresh and frozen bakery businesses to affiliated entities of
Together with the sale of the fresh and frozen business, the sale of the ambient business represents the disposition of George Weston's entire bakery business, for an aggregate value of
The ambient business sale is expected to close before the end of the first quarter of 2022. The company says it expects to return the net proceeds from both transactions to shareholders through share repurchases over time.
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