Weston Purchases Ace

November 2/Guelph, Ontario/Guelph Mercury -- George Weston has paid $110 million to purchase Ace Bakery, a manufacturer and supplier of artisan and European-style breads.

Weston, which controls the Loblaws grocery chain and owns Weston Foods, said that the Ace Bakery products will complement its own brands.

"I would like to welcome the ACE Bakery employees into the Weston group," said W. Galen Weston, chair and president of George Weston.

It's the second major bakery acquisition for Weston in recent months, following its purchase of Keystone Bakery for $185 million U.S. in September.

Keystone has three operating businesses -- Freed's Bakery of Manchester, N.H., a baker of frozen, fully finished iced cupcakes, Granny's Kitchens of Frankfort, N.Y., a supplier of pre-fried and thaw-and-sell doughnuts, and Heartland Baking of DuQuoin, Ill., a specialty supplier of thaw-and-serve cookies.

From the November 15, 2010, Prepared Foods E-dition