Bakers Journal

News
Aziz resigns from Canada Bread


March 12, 2014
By Bakers Journal

March 12, 2014 – Canada Bread Company has announced
that William E. Aziz has decided to resign as a director of Canada Bread as a
result of the company’s impending sale to Grupo Bimbo.

March 12, 2014 – Canada Bread Company has announced
that William E. Aziz has decided to resign as a director of Canada Bread as a
result of the company’s impending sale to Grupo Bimbo.

Canada Bread entered into an agreement with
Grupo Bimbo, who will acquire all of the issued and outstanding common shares
of Canada Bread for aggregate cash proceeds of $1.83 billion or $72.00 per
share. Subject to regulatory approvals and satisfaction of other customary
conditions, the transaction is expected to close in the second quarter of 2014.
 

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“I want to sincerely thank Bill for his
years of service to the Canada Bread board, and his diligence at ensuring the
best interests of the company and all shareholders have been served, especially
over the last months as the agreement with Grupo Bimbo was finalized,” said
Michael H. McCain, chairman of Canada Bread, in a press release.