TORONTO — In what analysts believe may be prelude to taking Loblaw Cos. private, George Weston Ltd. here on Wednesday said it has agreed to sell its U.S. bakery divisions to Grupo Bimbo for $2.5 billion.
Weston is the largest U.S. baker with brands including Arnold, Brownberry, Entenmann's, Freihofer, Stroehmann and Thomas. Weston said the deal is set to close in the first quarter of 2009. George Weston has a controlling interest in Loblaw.
Analysts have said they antic