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All your bread belongs to us, bwahaaaaa!

24 January 2014

Canadians may control Mexican minerals, but they may soon be asking Mexicans, “give us this day our daily bread” :

Olivia Oran and Soyoung Kim, Reuters:

Grupo Bimbo (BIMBOA.MX), one of the world’s largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co Ltd (CBY.TO) from majority owner Maple Leaf Foods Inc (MFI.TO), according to people familiar with the matter.


A purchase of Canada Bread, one of two dominant bakery companies in the imagescountry, 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.

Bimbo has expanded its U.S. footprint in recent years, acquiring Sara Lee Corp’s North American bakery business for $959 million in 2010 and buying Hostess Brands Inc’s Beefsteak bread brand last year.

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