DOWNERS GROVE, IL — Hearthside Food Solutions, an industry leading contract manufacturer, has signed an agreement to acquire assets of the Cookies, Crackers, Cones and Wafers Division of Weston Foods, which includes six North American bakery facilities.
The acquisition — which has a price tag of $370,000,00 CAD (or $295,438,665.60 USD) — expands Hearthside’s network to 43 production facilities in the US, Canada and Europe. The organization is also gaining 1,100 full-time employees from the deal in addition to an expanded base of perimeter food company customers.
“The Weston acquisition is an ideal complement to our existing production network and business, bringing baking capacity, a roster of premier customers, expanded capabilities, and enhanced geographic coverage,” said Chuck Metzger, Hearthside CEO. “These synergies benefit our current and new customers alike. We look forward to welcoming Weston’s 1,100 employees into the Hearthside family.”
The six new facilities are located in North Sioux City, SD; Front Royal, VA; Green Bay, WI; Somerset, PA; Columbus, OH; and Kitchener, Ontario. The facilities will add to Hearthside’s capabilities in its four primary production categories: baking, bars, fresh and frozen entrees, and food packaging.
The new acquisition comes off the heels of Weston Foods selling its fresh and frozen bakery business to FGF Brands last month.
“With the agreement to sell the ambient segment to Hearthside and our previously announced sale of the fresh and frozen businesses, we have two high-quality buyers that are well-positioned to carry on the proud legacy of the Weston Foods business,” said Galen G. Weston, chairman and CEO of George Weston. “With the sale of the entire bakery business, George Weston will be focused on its market-leading Retail and Real Estate businesses going forward.”