CANADA: Maple Leaf Foods increases stake in Canada Bread

Canadian food company Maple Leaf Foods has purchased more shares of its Canada Bread unit, lifting its stake to 84.7% from 81.1%.

Toronto-based Maple Leaf Foods said it bought 903,100 common shares of Canada Bread, the country’s biggest bread maker, for C$26.50 (US$18.93) per share.

“The purchase further demonstrates Maple Leaf Foods’ long-term commitment to the bakery business,” Tom Muir, Maple Leaf’s chief financial officer, was quoted by The Canadian Press as saying.