Canada Bread completes Stonemill Bakehouse acquisition in Ontario

Canada Bread, a producer and distributor of packaged fresh bread and bakery products, has completed the acquisition of Toronto-based Stonemill Bakehouse by purchasing total shares in the company.

Financial details of the transaction have not been revealed by both the companies.

Stonemill Bakehouse has been producing and distributing slow fermented craft breads in the region.

The company also noted that they use 100% natural, non-GMO certified and organic ingredients in their products that are baked in the stone ovens.

As per the terms of the acquisition, Canada Bread will be taking over Stonemill Bakehouse well positioned brands such as Stonemill.

The Ontario-based baker owns and operates a production facility located in Scarborough, as well as a store in St. Lawrence Market in Toronto with a total workforce of 100 members.

The acquisition will further strengthen Canada Bread's position in the Canadian market, as well explore new growth opportunities that complements its existing product portfolio and its distribution and manufacturing footprint.

Headquartered in Toronto, Ontario, Canada Bread is a wholly-owned subsidiary of Grupo Bimbo, which acquired the Canada Bread in 2014.

For more than 100 years, Canada Bread has been into the baking business, which currently owns and operates 18 bakeries and employs approximately 4,225 associates across Canada.