India, July 16 -- Supermarket chain Metro Inc. (MRU.TO) and family-owned bakery company FGF Brands on Thursday announced a strategic partnership under which FGF will acquire the commercial bakery production facility of Premiere Moisson Group, a Metro subsidiary, for C$90 million.
"This transaction is consistent with our focus on our core food and pharmaceutical retail and distribution activities, while preserving the strength of the Premiere Moisson brand, ." said Marc Giroux, Chief Operating Officer, Metro.
The deal includes Premiere Moisson's manufacturing facility in Baie-D'Urfe. Once the transaction closes, FGF will take over the production and distribution of Premiere Moisson products sold through grocery stores.
Metro said the part...