NAFTA bread.
 

Another one goes south.

George Weston sells U.S. bakery to Grupo Bimbo
Financial Post
Published: Wednesday, December 10, 2008


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Mike Cassese/ReutersGalen G. Weston Sr., president of George Weston Ltd., which has agreed to sell the fresh bread and baked goods division of its Dunedin Holdings unit to Grupo Bimbo for a total of US$2.5-billion.
George Weston Ltd. said it has agreed to sell the fresh bread and baked goods division of its Dunedin Holdings unit to Grupo Bimbo for a total of US$2.5-billion.

The unit includes such brands as Entenmann's, Stroehmann and Thomas' and contributed US$2.2-billion in revenue to Weston over the 52-weeks ending Oct. 4.

Weston said it will take a significant gain on the sale of the business, which it bought as part of the $2.7-billion Bestfoods Baking acquisition in 2001.

The company says it will still retain its other U.S. baking interests, Interbake Foods and Maplehurst Bakeries, which produces and distributes frozen bakery products.

The company did not say what it would do with the cash from the sale, aside from saying "We intend to use that cash wisely and at the appropriate time."

It's not the first time Mexico's Grupo Bimbo has bought assets from Weston. In 2002, Weston sold its Oroweat bakery division to Grupo Bimbo S.A. for US$610-million.

CIBC World Markets acted as financial advisor to Dunedin and Weston.

That is truly amazing!










There is REALLY a company with the name Grupo BIMBO?

Is it run by a bunch of blonde women?

. . . with big hooters?

As long as Little Debbie stays in the US....ummm Twinkies.

[QUOTE=Dee8go;2045150]That is truly amazing!


Yes, their a well dressed Italian mob, not the brightest bulbs in the pack, not the sharpest knives in the drawyer. Just a sandwhich shy of a picnic...brick shy of a load...

Yeah, but they have a lot of bread, man . . . .

Keep your eyes peeled and you may be lucky enough to find one of these still around:
http://cgi.ebay.com/HOSTESS-TWINKIES-5-PCS-BAKE-SET-2005-NIB_W0QQitemZ120342225351QQcmdZViewItem

Then you can make healthy "home-made" Twinkies.:D


EDIT: Here's just the pan for sale: :cool:
http://cgi.ebay.com/New-Nonstick-8-Cup-Cream-Canoe-Pan-Twinkie-by-Norpro_W0QQitemZ370112434133QQcmdZViewItemQQptZCookware_Bakeware?_trksid=p3286.m20.l1116

I went to high school in Mexico City, and I was always amused by the Bimbo brand. Their equivalent of the Hostess powdered donuts were called "Donas Bimbo". Of course, "Dona" is also the Spanish term for "Mrs.", so naturally our least favorite teachers were always called "Dona Bimbo"

What's the point of slammin down a Twinkie if it's healthy?

I'd make it with peanut butter filling and dip it in chocolate.:D

AMAZING!! I thought they only made french fries and tater tots.:D

my step dad works for interstate brands as a wonder bread vendor aka bread guy. He's not going anywhere since his route is very profitable and has known about this deal for a while now.