Canada Bread has established an independent committee to protect business as parent company Maple Leaf considers selling its 90% stake in the bread firm.
Canada Bread and its parent company Maple Leaf Foods were both harmed by weak fresh bakery volumes in the first quarter (Q1), negatively impacting companies' profits.
Canadian firm Maple Leaf has confirmed that it plans to close its West Midlands bakery, after failing to find a buyer for the site, with the loss of 236 jobs.
Maple Leaf Foods has opened a new commercial bakery it claims is the largest in Canada. The Canadian packaged food company has spent $100 million on creating the 385,000 sq ft facility, which is situated in the Red Hill Business Park in Hamilton, Ontario.
Canadian baked goods and meat producer Maple Leaf Foods, has attributed its 2 per cent rise in adjusted operating earnings in the third quarter of this year to the higher costs of grains and meat proteins.
The bakery units of Canada's Maple Leaf Foods, including its
UK-based bagel producer, are to be consolidated into one company
under the aegis of Canada Bread.
