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Canada's George Weston to sell fresh and frozen bakery businesses to FGF Brands

Reuters
Updated

(Reuters) - Canadian food producer George Weston Ltd said on Tuesday it would sell its Weston Foods fresh and frozen bakery businesses to baking company FGF Brands Inc for C$1.2 billion($970.08 million)in cash.

The businesses comprised about 75% of Weston Foods' net sales in 2020.

($1 = 0.8083 Canadian dollars)

(This story corrects to tag to company news ticker)

(Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber)