George Weston rises on sale of bakery business

George Weston

15/11/2021 19:40

** Canadian food producer's shares  WN.TO  up over 1% at
C$140.68 in afternoon trade
    ** WN to sell its Weston Foods ambient bakery business to
affiliated entities of Hearthside Food Solutions in C$370 mln
($295.7 mln) deal  urn:newsml:reuters.com:*:nASA02SU1
    ** WN's ambient bakery division makes cookies, crackers,
cones and wafer for retail and foodservice businesses in Canada
and the United States
    ** Co expects deal to close before end of Q1 2022
    ** WN has been sharpening its focus on its retail and real
estate units; last month, WN announced the sale of its fresh and
frozen bakery businesses to baking co FGF Brands Inc for C$1.2
bln  urn:newsml:reuters.com:*:nL4N2RM2XK
    ** With session's moves, WN up ~48% this year


($1 = 1.2512 Canadian dollars)

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))