Grupo Bimbo, one of the world's largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co Ltd from majority owner Maple Leaf Foods Inc, according to people familiar with the matter.
Other parties involved in the auction of the roughly C$1.8 billion ($1.64 billion) bakery company – including private equity firms KKR & Co LP and Bain Capital LLC, as well as U.S.-based Flowers Foods Inc – are no longer actively pursuing a deal, the sources said.
A purchase of Canada Bread, one of two dominant bakery companies in the country, would build on Bimbo's large U.S. acquisitions in recent years and strengthen the Mexican company's position as the top bread maker in North America.
To read the rest of the story, please go to: Reuters
