Canada Bread has reached an agreement to sell its prepared sandwich business to Premium Brands Holding Corporation for an undisclosed sum.
Canada Bread president and CEO Richard Lan said that the move would allow the company to focus on its core bakery and pasta businesses.
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The sandwich business supplies fresh prepared sandwiches to grocery and convenience retailers throughout Ontario and Quebec. It includes two production facilities in Gatineau, Quebec, and Etobicoke, Ontario, as well as a distribution centre in Laval, Quebec. The business employs 280 people.
Upon completion of the deal, which is expected to close on 18 February, the companies said that they will maintain a “strong relationship”. Canada Bread and Maple Leaf Consumer Foods will supply bakery and deli meat products to Premium Brands, Canada Bread revealed.
Canada Bread is 90% owned by Maple Leaf Foods Inc.
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