August 31, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — George Weston, Ltd. (TSX: WN) said that its subsidiary, Maplehurst Bakeries, LLC, has agreed to purchase the Keystone Bakery business, a U.S. manufacturer and supplier of frozen cupcakes, donuts and cookies to in-store bakeries and food service channels for USD$185 million.

Keystone Bakeries is comprised of three operating companies: Freed's Bakery of Manchester, New Hampshire, a supplier of frozen, fully finished iced cupcakes; Granny's Kitchens of Frankfort, New York, a supplier of pre-fried and thaw and sell donuts; and Heartland Baking of DuQuoin, Illinois, a specialty supplier of thaw-and-serve cookies.

The transaction is subject to U.S. regulatory approval.

Canada-based George Weston was founded in 1882 and through its operating subsidiaries constitutes North American food processing and distribution group. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Cos.

The Weston Foods operating segment is primarily engaged in the baking industry within North America. Loblaw a provider of general merchandise, drugstore and financial products and services.

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