Food processing and distributing giant George Weston Ltd., Toronto, said it expects during the first quarter of 2009 to sell its U.S. fresh bread and baked goods business to Grupo Bimbo, S.A.B. de C.V., Mexico City, for $2.5 billion. The assets are part of Weston Foods Inc. and include the Arnold, Brownberry, Entenmann's, Freihofer, Stroehmann and Thomas brand names and assets.
Weston said it will retain other U.S. baking food interests, including Interbake Foods, which produces biscuits, cookies, cones and wafers; and Maplehurst Bakeries, a Brownsburg, Ind., frozen products business.