George Weston Limited announces completion of the sale of its U.S. fresh baking assets to Grupo Bimbo



    TORONTO, Jan. 22 /CNW/ - George Weston Limited ("Weston") (TSX: WN)
announced today that its subsidiary, Dunedin Holdings S.à r.l., completed the
sale on January 21, 2009 of its fresh bread and baked goods business in the
United States to Grupo Bimbo, S.A.B. de C.V., which was previously announced
on December 10, 2008. The gross and net cash proceeds of the sale are
approximately U.S.$2.5 billion, including approximately U.S.$125 million of
interest bearing assets.

    George Weston Limited is a Canadian public company founded in 1882 and
through its operating subsidiaries constitutes one of North America's largest
food processing and distribution groups. Weston has two reportable operating
segments: Weston Foods and Loblaw, which is operated by Loblaw Companies
Limited. The Weston Foods operating segment is primarily engaged in the baking
industry within North America. Loblaw is Canada's largest food distributor and
a leading provider of general merchandise, drugstore and financial products
and services.





For further information:

For further information: Geoffrey Wilson, Senior Vice President, (416)
922-2500


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890