– Maple Leaf Foods today announced that it has
purchased 1,165,300 million common shares of
Canada Bread Company, Limited at $25.00 per
share. The shares, which represent about 4.6% of
Canada Bread’s outstanding shares, were
purchased on the TSX.
The shares were
purchased for investment purposes. “The purchase
further demonstrates Maple Leaf Foods’ long-term
commitment to the bakery business.” said Tom P.
Muir, Chief Financial Officer of Maple Leaf
Foods. Maple Leaf Foods may or may not purchase
additional shares of Canada Bread in the future,
depending on market conditions.
Prior to this
transaction, Maple Leaf Foods beneficially owned
18,633,315 common shares representing
approximately 73.3% of the outstanding common
shares. Subsequent to the transaction Maple Leaf
Foods owns 19,798,615 common shares representing
approximately 77.9% of the outstanding common
shares of Canada Bread.
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 18,000 people at its
operations across Canada, and in the United
States, Europe and Asia. Maple Leaf Foods Inc.
reported sales of $5.1 billion in 2002.