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Mexican Baking Giant Completes Purchase Of Canada Bread

May 23, 2014: 12:00 AM EST
Giant Mexican baking company Grupo Bimbo has completed its purchase of Canada Bread Company for $1.83 billion in cash. Canada Bread’s shares were delisted from the Toronto Stock Exchange as of May 26. Shareholders of Canada Bread will receive payment of $72.00 a share in cash and a dividend of $0.437 a share. Grupo Bimbo’s main product lines include sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionary products. The company has 144 plants and more than 1,600 distribution centers in 19 countries in the Americas, Europe and Asia.
"Grupo Bimbo Completes Acquisition of Canada Bread", News release, Canada Bread Company, May 23, 2014, © Canada Bread Company
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