Canada Bread Company, Limited, a subsidiary of Grupo Bimbo S.A.B. de C.V., acquired Saputo Bakery Inc. (Saputo Bakery Division) from Saputo Inc. (Saputo). The purchase price of $120 million was paid in cash at closing.
The Saputo Bakery Division is the largest manufacturer of snack-cakes in Canada with a portfolio of brands including such recognizable names as Vachon, Jo Louis, Ah Caramel, Passion Flakie and May West. It operates a manufacturing facility in Quebec and employs over 640 employees. Canada Bread is a leading producer and distributor of packaged fresh bread and bakery products in Canada, operates 16 bakeries and employs approximately 3,800 people across Canada. Following closing, the Saputo Bakery Division has been renamed Vachon Bakery Inc.
Blake, Cassels & Graydon LLP advised Canada Bread and Grupo Bimbo with a team that included Frank Guarascio, Cheryl Satin, Tricia Kuhl and Sébastien Géhu (corporate and M&A); Jason Gudofsky (competition), Natalie Bussière and Aldona Gudas (pension and employment); Daniel Ferreira and Camille Paulus (real estate); and Charles Kazaz (environmental) and Jeffrey Shafer (tax).