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Saputo to Canada's largest producer of snack cakes to Mexican food giant

Saputo to Canada's largest producer of snack cakes to Mexican food giant

Posted by Juan Gavasa on December 18, 2014

Mexican food giant Grupo Bimbo, through its subsidiary Canada Bread Co., is buying Saputo’s bakery division, maker of Vachon and Jos Louis snack cakes.

Grupo Bimbo said on Thursday it will pay $120-million for Saputo Bakery Inc. The deal marks the second major Canadian deal for Grupo Bimbo, which paid $1.8-billion for Canada Bread this year.

Canada Bread is the former baking division of Maple Leaf Foods Inc., and makes Dempster’s bread and other brands at 16 factories across Canada.

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