Mexico's Grupo Bimbo to buy Saputo bakery business

Thu Dec 18, 2014 9:15am EST
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WINNIPEG, Manitoba Dec 18 (Reuters) - A subsidiary of Mexico's Grupo Bimbo SAB de CV has agreed to buy the bakery division of Canada's Saputo Inc, Saputo said on Thursday in a statement.

Canada Bread Company Ltd will pay C$120 million ($103.38 million) for Saputo's bakery, subject to conditions, including the approval of Canada's Competition Bureau. ($1 = 1.1608 Canadian dollars) (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Jeffrey Benkoe)