Back to Media

Canada Bread Shareholders Approve Acquisition of Maple Leaf Bakeries

Toronto, ON – Maple Leaf Foods Inc. (TSX:MFI)
and Canada Bread Company, Limited (TSX:CBY)
today announced that shareholders of Canada
Bread, excluding Maple Leaf Foods, have voted in
favour of Canada Bread acquiring all of the
other bakery operations of Maple Leaf Foods.  Of
the 4.96 million shares voted, approximately 86%
were voted in favour of the acquisition.  The
transaction is expected to close before December
31, 2002.


“This is a great step forward for Canada Bread,”
said Richard Lan, President and Chief Executive
Officer of Canada Bread.  “This union will
transform Canada Bread into a global business,
with significant presence across Canada, United
States and the United Kingdom.  Becoming one
company will allow us to focus our people on
shared business and financial performance
objectives.  With this approval, our
shareholders have set the stage for the next
level of growth for Canada Bread.”


The Bakery operations of Maple Leaf Foods
consists of all of its existing bakery
operations in the U.S. and U.K.  Maple Leaf
Bakeries is a leading supplier of frozen
par-baked bread, rolls and bagels, and fresh and
frozen artisan bread products in the U.S., and
is the largest bagel producer in the U.K.


Maple Leaf Foods Inc. is a leading Canadian food
processing company committed to delivering
quality food products to consumers around the
world.  Headquartered in Toronto, Canada, the
Company employs more than 15,000 people at its
operations across Canada and in the United
States, Europe and Asia.  Maple Leaf Foods had
sales of $4.7 billion in 2001. 


Canada Bread Company, Limited is a leading
Canadian manufacturer of value-added flour-based
products and fresh pasta to the retail and food
service markets.  Canada Bread maintains a
national presence in the marketplace with four
principal brand names:  Dempster’sTM,  POMTM , Olivieri TM and Tenderflake TM