Industry News | March 12, 2009

General Mills Sells Piece of Frozen Bread Business

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Pennant Foods entered into a definitive agreement to purchase a portion of the General Mills Bakeries and Food Service frozen bread dough business. Pennant is a member of the Fresh Start Bakeries Family of Companies which operates more than 25 bakeries in nine countries on four continents world-wide.

The sale includes four manufacturing facilities located in Bakersfield, California; Hazleton, Pennsylvania; Montreal, Quebec Canada; and Vinita, Oklahoma, and will significantly increase Pennant Foods’ production capacity for some of its core focus product lines.

“The addition of these capabilities will greatly enhance Pennant’s ability to serve the growing needs of our key customers, as well as open new markets to the Company”, says Jim Clough, president of Pennant Foods.

“Our objective is to build on and broaden the products and services we provide to our customers in the global bakery products market,” says Craig Olson, president and CEO of Fresh Start Bakeries. “Pennant has been a strong and reliable performer for Fresh Start and I am confident that the synergies of this acquisition will both solidify and grow the value we provide to our customers.”

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