George Weston Limited, Toronto, said its U.S. frozen bakery subsidiary, Maplehurst Bakeries, LLC, agreed to purchaseKeystone Bakeries LLCfor USD $185 million.
Based in Manchester, N.H., Keystone has three operating companies:Freed's Bakery, a Manchester, supplier of frozen, fully finished iced cupcakes;Granny's Kitchens, a Frankfort, N.Y., supplier of frozen pre-fried and thaw-and-sell donuts; andHeartland Baking, a DuQuoin, Ill., supplier of thaw-and-serve cookies.
Officials noted that the transaction is subject to U.S. regulatory approval.
Said Weston Chairman and President W. Galen Weston, "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."
Maplehurst Bakeries, Brownsburg, Ind., supplies frozen breads and rolls; desserts (pies, cakes, brownies) and breakfast foods (donuts and coffee cakes) to the in-store bakery and foodservice channels.
Maplehurst acquires Keystone Bakeries
August 30, 2010