Bullboard - Stock Discussion Forum George Weston Ltd T.WN.PR.E

Primary Symbol: T.WN Alternate Symbol(s): WNGRF | T.WN.PR.A | WNGPF | T.WN.PR.C | T.WN.PR.D | WGRGF

George Weston Limited is a Canada-based company. The Company operates through two segments: Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). Loblaw has two reportable operating segments, retail and financial services. Loblaw’s retail segment consists primarily of food retail and drug retail. Loblaw provides Canadians with grocery... see more

Add To Watchlist

TSX:WN - Post Discussion

George Weston Ltd > Closing of the sale of Weston Foods Fresh/Frozen Business

View:

Post by Betteryear2 on Dec 10, 2021 3:30pm

Closing of the sale of Weston Foods Fresh/Frozen Business

TORONTO, Dec. 10, 2021 /CNW/ - George Weston Limited ("George Weston" or the "Company") (TSX: WN) today announced the closing of the previously announced sale of its Weston Foods fresh and frozen bakery businesses to affiliated entities of FGF Brands Inc. ("FGF").

Prior to closing, George Weston and FGF agreed on a revised purchase price of $1.1 billion for the transaction, as well as certain other amendments, including an adjustment to the working capital provisions as a result of seasonal fluctuations in inventory and accounts receivable.

George Weston continues to work toward completing the previously announced sale of its ambient bakery business – comprised of cookies, cones, crackers and wafers – to affiliated entities of Hearthside Food Solutions, LLC.

334