George Weston Limited

10:04 AM EST - George Weston Limited : Today announced that it has signed a definitive agreement to sell its Weston Foods fresh and frozen bakery businesses to affiliated entities of FGF Brands Inc. for aggregate cash consideration of $1.2 billion. The purchase price represents approximately a 10.0x multiple on the 2021 estimated EBITDA of the Weston Foods fresh and frozen bakery businesses. The fresh and frozen bakery businesses comprised approximately 75% of Weston Foods' 2020 net sales. George Weston continues to be committed to selling its remaining ambient business – comprised of cookies, cones, crackers and wafers, and is actively engaged in that process. George Weston Limited shares T.WN are trading up $0.06 at $138.62.

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