CANADA: Maple Leaf Foods Inc.: Canada Bread closes deal with Multi-Marques
Canada Bread Company, Limited (TSE: CBY), 68% owned by Maple Leaf Foods Inc. (TSE: MFI), announced Friday (12 October) that Canada Bread has closed the transaction to increase its 25% ownership in Multi-Marques to 100% by purchasing the remaining shares. Originally announced on January 22, 2001, the transaction was subject to review under the Competition Act. The review was recently satisfactorily completed. Canada Bread has agreed to sell a portion of its foodservice business in Atlantic Canada within twelve months. While this fully addresses the competitive issue in this particular market, it will not have a material financial impact on the overall sales or financial performance of the combined business.
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