November 16, 2021

Mayer Brown advises George Weston Limited on the sale of its bakery business

A Mayer Brown team advised George Weston Limited on the sale of its Weston Foods ambient bakery business to affiliated entities of Hearthside Food Solutions, LLC for CAD$370 million. Subject to regulatory approvals and customary conditions, the transaction is expected to close before the end of the first quarter of 2022.

On October 26, 2021, the Mayer Brown team also advised George Weston on its definitive agreement to sell its fresh and frozen bakery businesses to affiliated entities of FGF Brands Inc. for aggregate cash consideration of CAD$1.2 billion. Together with the sale of the fresh and frozen business, the sale of the ambient business represents the disposition of George Weston's entire bakery business, for an aggregate value of CAD$1.57 billion.

The Mayer Brown team was led by Corporate & Securities partners Marina Aronchik, Bill Kucera, Marc Sperber and included Employment & Benefits partner Debbie Hoffman; Litigation & Dispute Resolution partner Bill Stallings and counsel Meytal McCoy and Kim Leffert; Real Estate Markets partner David Saye and counsel Cory Menees; and Corporate & Securities associates Joshua La Vigne and Laura Buchanan.

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