Market News

Canada Bread Buys U.K. Bakery

Toronto-based Canada Bread Company Ltd. has expanded its U.K. operations with the purchase of Walsall, England-based Harvestime Ltd. bakery, for an undisclosed amount. Harvestime, which employees 250 people and generates annual sales of about $39 million, is a producer of par-baked breads, rolls and specialty bakery products largely for retail customers in the United Kingdom. "The U.K. and European specialty bakery market is a high growth opportunity for Canada Bread," said company president and CEO Richard Lan, "The acquisition of the Walsall bakery immediately provides us with a stronger presence in the retail bakery market and broadens our base in bagel manufacturing to other specialty par-baked produtcts." Source: Canadian Grocer E-Newsletter, April 7, 2006.