George Weston Limited announces the purchase of ACE Bakery

TORONTO, Nov. 1 /CNW/ - George Weston Limited ("Weston") (TSX: WN) announced today that its subsidiary, Weston Foods (Canada) Inc. has completed the purchase of ACE Bakery, a manufacturer and supplier of artisan and European-style rustic bread varieties, for $110 million.

W. Galen Weston, the Chairman and President of Weston stated that "The ACE Bakery brand is known for its quality products and will complement our existing family of brands allowing us to better serve our customers. I would like to welcome the ACE Bakery employees into the Weston group."

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:

Geoffrey Wilson,
Senior Vice President
416-922-2500