George Weston Limited
| George Weston Limited / George Weston limitée
|
|
|---|---|
 |
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| legal form | Public Company (Canada) |
| ISIN | CA9611485090 |
| founding | 1882 |
| Seat |
Toronto , Ontario , Canada
|
| management | W. Galen Weston ( CEO ), Paviter S. Binning (President) |
| Number of employees | over 140,000 (2013) |
| sales | CAD 33.6 billion (2013) |
| Branch | Groceries, packaging, bakeries |
| Website | www.weston.ca |
George Weston Ltd. ( French: George Weston limitée ) is a Canadian company with headquarters in Toronto , Ontario . The company is listed in the S & P / TSX 60 share index. It owns bakeries in North America and had sales of around 33.6 billion Canadian dollars in 2013 with over 140,000 employees .
history
In 1882, a young Toronto bread seller and former apprentice baker named George Weston went into business for himself when he bought a bakery street from his employer. In October 1897, George Weston opened his "Model Bakery", Canada's largest and most modern bread factory. In this 3200 large loaves of bread were baked every day with a capacity of 6,500 loaves a day. By the turn of the century, Weston's Bread was known throughout the city of Toronto and George Weston had become Canada's greatest baker.
In 1924, George's eldest son, Garfield Weston, succeeded his father and became President of George Weston Limited. In 1928, the company made its first major acquisition , the acquisition of William Paterson Ltd., a Brantford, Ontario- based biscuit maker. Despite the Great Depression , George Weston Limited continued to expand in Ontario and Western Canada. The company bought Lawlor's Bread Limited of Toronto in 1930. Regal Bakeries Limited of Ontario and Independent Biscuit Co. of Calgary in 1931 and Lawrence Bread Limited in 1933 were also acquired. In the same year, the company expanded its Toronto area of service by 100 miles with the acquisition of Ontario Bakeries Limited.
When the Depression deepened and George Weston Limited remained profitable, he bought businesses and businesses on favorable terms. In these acquisitions, the company was able to take advantage of the exceptionally low price of capital assets during the Depression to grow its business at a very low cost. The company acquired McCormick's Limited in 1937 and Inter City Western Bakeries in 1938. In the United States , it expanded its biscuit operations in Passaic, New Jersey , and built a new biscuit plant in Battle Creek , Michigan . A longtime Weston executive, Frank Riddell, observed that these acquisitions were often made with relatively little cash and a guarantee on Weston stock due to the lack of cash. In addition to the expansion program, the profitability of George Weston Limited enabled the establishment of a weekly minimum wage for its male employees in 1934. After World War II , the company moved beyond the bakery business by acquiring various food manufacturers . In the 1960s he acquired a majority stake in Loblaw Companies Limited, a large Canadian supermarket chain. In 1972, a third generation took over as the youngest son of Garfield Weston, W. Galen Weston, successfully consolidated a now sluggish conglomerate that was heading for financial disaster. In the late 1970s, the company's aggressive expansion and acquisition strategy resulted in a strain. Retail sales and revenue declined as the Loblaws supermarket chain was no longer competitive. However, the consolidation was achieved through tough restructuring measures. Most recently, Galen G. Weston took over the lead at Loblaw Companies Limited as George Weston Limited had to undergo another phase of transformation in response to a rapidly changing business environment.
Bakeries (selection)
- George Weston Bakeries
- Arnold
- Boboli
- Brownberry
- Duckman's
- Freihofer
- Maplehurst Bakeries
- Oroweat
- Thomas'
- Interbake Foods
- Wonder bread
- Country Harvest
- Arnie's bagels
- Straw Man Pennsylvania Dutch Bakers
- Gadoua Bakeries