Weston to purchase Keystone Bakery in US
Maplehurst Bakeries, LLC, a George Weston Limited (Weston) subsidiary, is buying the American food manufacturer and supplier, Keystone Bakery, for US$185 million. The deal is subject to U.S. regulatory approval.
Keystone Bakeries makes frozen desserts for in-store bakeries and food service channels. The company consists of Freed’s Bakery of Manchester, N.H., a supplier of frozen, finished iced cupcakes; Granny’s Kitchens of Frankfort, N.Y., a supplier of pre-fried and thaw and sell donuts; and Heartland Baking of DuQuoin, Ill., a supplier of thaw-and-serve cookies.
“The combination of Keystone Bakery and Weston’s baking operations in the United States and Canada will allow us to better serve our customers in the North American sweet baked goods sector,” said W. Galen Weston, chairman and president of Weston.
George Weston Limited is a Canadian public company with subsidiaries making up one of North America’s largest food processing and distribution groups.