George Weston Limited announces that it is taking steps to sell Weston Foods, which has been with the business for 139 years.
The company says it now intends to focus its activities on retail and real estate.
Weston Foods is only a tiny fraction of the relative worth of George Weston Limited. Faced with the absence of exciting avenues for increasing the importance of this sector within the company, the directors believe that its sale remains the best way to realize its growth potential.
Galen G. Weston, Chairman and CEO of George Weston Limited, says Weston Foods has a solid foundation, a strong customer list and strong brands.
On the other hand, the company announces the retirement of Sarah Davis, president of Loblaw Companies Limited, effective May 6. Galen G. Weston, Executive Chairman of the Board of Directors, will succeed him as Chairman of the Board and President and his roles as Chairman of the Board and Chief Executive Officer. The direction of George Weston Limited.