The Canadian arm of Mexican baker Grupo Bimbo, Canada Bread Co., has acquired Toronto-based Stonemill Bakehouse.
Stonemill Bakehouse is a producer of slow fermented craft breads baked in stone ovens using 100% natural, non-GMO certified and organic ingredients.
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“This operation will position Canada Bread for further growth, complementing its current product portfolio and its distribution and manufacturing footprint,” Canada Bread said in a statement.
The acquisition includes brands such as Stonemill.
The company employs approximately 100 people and operates one production facility in Scarborough, Ontario, and a store in St. Lawrence Market in Toronto.
Grupo Bimbo has been rationalising its Canadian bakery footprint in order to remove excess capacity and lower costs. Last month, the company detailed plans to shutter its bakery in St-Côme-Linière, Quebec. Prior to this, Canada Bread said it was winding down operations at its bakery in North Bay, Ontario. Canada Bread said the move was in response to “mounting competitive pressure to become more efficient”. It followed the closure in 2015 of a Canada Bread plant in Halifax, Nova Scotia.
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