Canadian food processor George Weston has said it plans to raise C$200m (US$163.6m) through the issue of 8.0 million preferred shares.

The company said the net proceeds of the issue will be added to the general funds of
George Weston and used to repay maturing commercial paper and for general corporate purposes.

George Weston operates in the baking and dairy industries in North America and also operates Canadian food distributor Loblaw.