Toronto, Ontario-based Canada Bread Company (CBC), a manufacturer and distributor of bakery products and fresh pasta, has completed its purchase of the Olafson’s Baking Company, which operates a bakery and distribution facility is based in Delta, BC.
Olafson’s has annual sales of about C$30m (US$19.42m) and currently employs around 330 people. It specialises in the production of premium value-added bakery products and is majority owned by its president and GM Dean Francis, who will join the CBC management team and continue to maintain a direct economic interest in the business.
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Francis commented: “Joining forces with CBC will strengthen our service and product offering to both the Olafson’s Baking and CBC customers.”
C. Barry McLean, president of Canada Bread Fresh, added: “Completion of this transaction will broaden the range of premium bakery products we can now offer our customers. We are very pleased to welcome the Olafson’s employees to the Canada Bread team”.
CBC will retain key management personnel to support ongoing business and customer continuity including Francis, who has been appointed senior VP and GM of Canada Bread Fresh West.
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