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Metro to acquire specialty bakery

Metro Inc. on Tuesday said it has agreed to acquire a majority interest in specialty bakery chain Première Moisson.

Jon Springer, Executive Editor

June 17, 2014

1 Min Read
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Metro Inc. on Tuesday said it has agreed to acquire a majority interest in specialty bakery chain Première Moisson.

The retailer said the initiative would support its efforts to differentiate its grocery stores behind fresh products and presents an opportunity to grow the Première Moisson brand beyond Quebec.

The deal calls for Metro to acquire 23 stores and three production centers. The Colpron-Fiset family, which founded the bakery in 1992, will retain 25% of Première Moisson's capital and will continue to manage the company. The transaction is expected to close in coming weeks, the companies said. Financial terms were not disclosed. 

"We are thrilled about this partnership with Première Moisson, the leader in premium artisan breads in Quebec. This transaction will further differentiate our banners and allow us to even better meet the needs of customers who are looking for the very best fresh products. It also represents a growth opportunity for Première Moisson's activities throughout Quebec and eventually elsewhere,” said Eric R. La Flèche, president and CEO of Metro Inc.

 

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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