Canada Bread acquires U.K.-based craft bakery
August 20, 2007
by Eric Schroeder
TORONTO — Canada Bread Company, Ltd., a subsidiary of Maple Leaf Foods Inc., has acquired La Fornaia Ltd., a U.K.-based craft bakery, for £18.75 million($37.2 million).
La Fornaia produces a range of premium quality and hand-crafted bread products. The company, which has annual sales of approximately £23 million, employs 300 people at its 54,000-square-foot modern bakery plant in Park Royal, London.
"La Fornaia has a long-standing excellent reputation for producing hand-crafted bread products, using traditional methods and the finest ingredients, supported by a highly skilled workforce and strong innovation capabilities," said Richard Lan, president and chief executive officer of Canada Bread. "This acquisition will significantly expand our presence in the high-end artisan bread market and broadens the portfolio of products we can supply to our customers."
With the La Fornaia acquisition, Maple Leaf Bakery now operates seven production facilities in the United Kingdom.
Last November, Canada Bread expanded its U.K. operations with the acquisitions of The French Croissant Co. Ltd. and Avance U.K. Ltd. from Primebake Ltd.