Grupo Bimbo Closes Acquisition Of Canada Bread - Quick Facts

(RTTNews) - Maple Leaf Foods Inc. (MFI.TO) Friday announced that Grupo Bimbo S.A.B. de C.V. of Mexico has completed its acquisition of Canada Bread Co Ltd (CBY.TO, CBDLF).

Maple Leaf will receive gross proceeds of about $1.66 billion (which includes its share of the dividend paid upon closing of the Arrangement) in connection with the closing of the transaction.

"This is a milestone for Maple Leaf Foods," said Michael McCain, President and CEO. "With the sale of Canada Bread, our focus is dedicated to broadening our leadership in the consumer packaged meats market."

Delisting of Canada Bread's common shares from the Toronto Stock Exchange is expected to occur at the close of business on or about May 26.