TORONTO—The maker of Dempster’s and a range of other popular Canadian baked goods brands has snapped up a Toronto craft bakery.
Canada Bread Co., which is owned by Mexican baking giant Grupo Bimbo, announced March 6 it will buy Stonemill Bakehouse Ltd. for an undisclosed price.
Stonemill prides itself on making slowly-fermented craft bread in small batches using only organic ingredients. It operates a single production plant in Scarborough, Ont. as well as a store in Toronto’s historic St. Lawrence Market, where it sells its sourdough rye and a large range of seed- and grain-filled breads and bagels.
While most commercial plants produce bread using a high-speed process that takes just several hours, the Toronto company ferments its dough for as long as a full day—a practice Canada Bread won’t look to change.
“We bought the company based on what it is that they do and what they’re good at and we have absolutely no intention of changing anything,” company spokeswomen Sylvia Sicuso, said.
Instead, Canada Bread plans to use the acquisition to complement its existing large-scale bread production capacity and set itself up for further growth.
Grupo Bimbo will also use its national network to help Stonemill expand, Sicuso said. Currently, the Toronto bakery employs about 100 workers and serves Ontario almost exclusively.
The purchase follows the company’s decision last month to close two of its Quebec plants—a move that will lead to at least 56 lost jobs.