Canadian food company Maple Leaf Foods has entered into a private agreement with a third party to buy 819,400 common shares of bakery firm Canada Bread at C$26.50 (US$19.67) each.

Maple Leaf said it now holds over 20.6 million Canada Bread shares, which is a stake of around 81.1%. The company said the latest share purchase was for investment purposes.

The transaction is expected to close today [Friday], reported Dow Jones News.