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Canada's George Weston to sell fresh and frozen bakery businesses to FGF Brands

October 26, 2021 at 11:28 am EDT

(Reuters) - Canadian food producer George Weston Ltd said on Tuesday it would sell its Weston Foods fresh and frozen bakery businesses to baking company FGF Brands Inc for C$1.2 billion($970.08 million)in cash.

The businesses comprised about 75% of Weston Foods' net sales in 2020.

($1 = 0.8083 Canadian dollars)

(This story corrects to tag to company news ticker)

(Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber)

Stocks mentioned in the article

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	GABRIEL RESOURCES LTD.	0.02 CAD	0.00%	0.00%	15.14M
	LOBLAW COMPANIES LIMITED	152.4 CAD	-0.04%	+2.77%	34.13B

George Weston

Presently, George Garfield Weston is Chief Executive Officer & Executive Director at Associated British Foods Plc. He is also on the board of 16 other companies. In the past Mr. Weston was Managing Director at Allied Bakeries Ltd., Managing Director at George Weston Foods Ltd. and Managing Director at Westmill Foods Ltd. Mr. Weston received an MBA from Harvard Business School.

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