Maplehurst Bakeries, a subsidiary of Canadian food processor George Weston, is to purchase the Keystone Bakery business.
The acquisition of the US manufacturer and supplier of frozen cupcakes, donuts and cookies to in-store bakeries and food service channels cost US$185m.
Keystone Bakeries comprises of three operating companies: Freed’s Bakery of Manchester, Granny’s Kitchens of Frankfort, and Heartland Baking of DuQuoin.
The transaction is subject to US regulatory approval.
Galen Weston, the chairman and president of Weston said: “I am very pleased to welcome Keystone Bakeries and the employees of Freed’s, Granny’s and Heartland to the Weston Group. The combination of Keystone Bakery and Weston’s baking operations in the United States and Canada will allow us to better serve our customers in the North American sweet baked goods sector.”
