Thomas’s Mexican Muffins?
OK, for those of you who don’t live in North America, “English” muffins, especially Thomas’s, are a basic breakfast toast.
And now comes Bimbo from Mexico. Not only has it bought Thomas’s English muffins but their parent company and catapulted to the biggest bakery in the world.
Food conglomerate George Weston Ltd. will sell the fresh bread and baked goods division of its Dunedin Holdings unit to Mexican baking giant Grupo Bimbo for US$2.5-billion.
The deal, which marks the second major asset sale for Toronto-based George Weston this month, sparked a range of speculation about what the company would do with the sale proceeds from the unit, which includes Entenmann’s, Stroehmann and Thomas’ lines of cakes, sliced bread, buns and English Muffins.
From the Financial Post, 10th December.Hollie Shaw.
Thanks to Dan Strehl for the link.
